2023 US healthcare spending projected at $4.8 trillion, a 7.5% rise, driven by inflation, aging population, and pandemic policies.

2023 US healthcare spending is projected at $4.8 trillion, a 7.5% rise, driven by inflation, an aging population, and pandemic-related policies. Over 93% of the US population is insured, with a projected health spending share of GDP rising to 19.7% by 2032. The Inflation Reduction Act of 2022 is expected to impact Medicare spending trends, growing at an average annual rate of 7.4% over 2023-2032.