US healthcare spending surged to $4.9 trillion in 2023, driven by more medical use and insurance enrollment.

US healthcare spending hit $4.9 trillion in 2023, up 7.5%, driven by higher use of medical services and increased enrollment in private health plans, including those under the Affordable Care Act. Prescription drug spending rose 11.4% to $449.7 billion, largely due to diabetes and weight loss medications. Health insurance coverage reached 92.5%, up from 92.0% in 2022, with spending outpacing US economic growth.

3 months ago
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