In 2024, US healthcare spending reached $5.1 trillion, representing 18.2% of GDP, with projections indicating a rise to $7.2 trillion by 2031. The Medicare program was over $1 trillion and expected to surpass $15 trillion in the next decade. Approximately 15% of the US population over age 65 accounted for 37% of overall spending. New life-prolonging technologies drive 50% of annual spending increases, while 32 million Americans lack insurance and 45 million face inadequate coverage, revealing significant access disparities in healthcare.
Healthcare spending in the US reached $5.1 trillion in 2024, accounting for 18.2% of GDP, and is projected to rise to $7.2 trillion by 2031.
The Medicare program surpassed $1 trillion in 2024, projected to cost over $15 trillion in the next decade. Approximately 15% of the US population is over 65.
Fifty percent of annual increases in healthcare spending are due to costly emerging technologies like targeted cancer therapies, which often do not provide curative benefits.
There are currently 32 million Americans without health insurance and 45 million more with inadequate coverage, highlighting disparities in access to healthcare.
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