CMS reported national healthcare expenditures are expected to grow 5.5 percent through 2026, faster than projected gross domestic product growth, at 1 percent.
The report's projects don't take the Bipartisan Budget Act of 2018 into consideration.
Here are five things to know:
1. The report projects healthcare spending will reach 19.7 percent of GDP by 2026, driven by economic and demographic factors such as increased prices for medical goods and the increasing Medicare-eligible population that will shift from private insurance in the next decade.
2. Federal, state and local governments are expected to finance 47 percent of national health spending by 2026, compared to 45 percent in 2016.
3. Private health insurance spending is expected to average around 4.7 percent through 2026 due to low enrollment growth and downward pressure on utilization growth.
4. Over the next decade, personal healthcare spending is expected to average 5.5 percent of overall spending, and is anticipated to have the largest price growth during that time.
5. The insured population is expected to drop from 91.1 percent in 2016 to 89.3 percent in 2026 as the individual mandate penalty is eliminated and there is a downward trend of employer-sponsored health plans.