Health Care Spending Drops As Share Of GDP, CMS Says

Law360, Washington (January 6, 2014, 5:25 PM EST) -- National health care spending as a percentage of overall spending dropped in 2012 for the first time since 1997, with Medicare spending growth slowing after payment cuts and both Medicaid and private insurance spending growth near historic lows, according to a Centers for Medicare and Medicaid Services report released Monday.

U.S. health care spending grew by 3.7 percent in 2012, to just under $2.8 trillion — an average of $8,915 per person — trailing the nominal gross domestic product, or GDP, growth rate of 4.6 percent...
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