In the US, healthcare spending is projected to increase significantly by 2032, reaching an estimated $7.7 trillion annually. This is a considerable rise of $2.9 trillion from the previous year, with spending expected to grow at a rate of 5.6% annually during the 2023-2032 period. By 2032, healthcare is predicted to account for nearly 20% of the GDP, a notable increase from 17.3% in 2022.
The growth in spending is attributed to various factors, including the increased use of healthcare services following the end of the COVID-19 public health emergency in 2023 and ongoing legislative changes aimed at addressing healthcare needs in the aftermath of the pandemic. Legislative provisions enacted in response to COVID-19 are expected to influence healthcare spending and health insurance enrollment trends throughout the projection period from 2023 to 2032. For instance, Medicaid enrollment is anticipated to decrease after certain provisions expire, such as continuous enrollment requirements under the Families First Coronavirus Response Act of 2020.
Senate Republicans have shown their support for IVF by signing a letter advocating for promoting reproductive health and care. Meanwhile, Medicare is expected to experience significant growth due to increased enrollment during this timeframe due to ongoing legislative changes aimed at improving access to healthcare for older Americans and people with disabilities.
On the other hand, out-of-pocket spending on healthcare is projected to decrease during 2025-
