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CBO: Medicare Growth to Remain ‘Slower Than Usual’
The Congressional Budget Office, in its new economic outlook report released Tuesday, said the recent slowdown in the growth of Medicare costs has been “broad and persistent,” prompting a projection “that growth will be slower than usual for some years to come.”Total spending for Medicare is projected to grow about 6% per year over the next decade because Medicare case loads are expanding as baby boomers become eligible for benefits at age 65. In 2013 there were about 51 million Medicare beneficiaries and that number is expected to climb to 71 million by 2024. Read more…