New data released by the Centers for Medicare and Medicaid Services (CMS) suggests U.S. health spending posted a 4.6 percent increase ($3.6 trillion) in 2018, HealthLeaders Media reports.
The number of uninsured Americans, however, rose by 1 million.
“Healthcare spending growth picked up across all major payers in 2018 as medical prices grew faster, due in part to the reinstatement of the health insurance tax on all health insurance providers,” CMS Office of the Actuary statistician Micah Hartman said in a statement. “However, economic growth outpaced healthcare spending and the share of the economy devoted to health care fell.”
To read the full report, click here.