WASHINGTON—Growth in U.S. health-care spending is accelerating after reaching historic lows, a pickup largely attributed to the millions of Americans who have gotten health coverage under the Affordable Care Act. Spending on all health care increased 5.3% in 2014, according to a report Wednesday from actuaries at the Centers for Medicare and Medicaid Services. That compares with the 2.9% growth in 2013, which marked the lowest rate...
Health spending in the US has picked up, after falling to historic lows in 2013. Spending on healthcare increased by 5.4% in 2014, compared to just 2.9% growth the previous, the lowest on record. Economists said the increase was not a surprise, but opponents of the Affordable Care Act, or Obamacare, seized the opportunity to accuse the White House of not doing enough to rein in health costs. Commenting on the figures, Richard Frank, assistant secretary for planning and evaluation at the Department of Health and Human Services said “Under the Affordable Care Act, millions more Americans have quality, affordable health coverage, and cost growth has remained low.” The increase was caused mainly by two factors: an increase in prescription drug costs, thanks in part to new treatments for hepatitis C, and the USA's ageing population, which is covered under the Medicare scheme.