U.S. health spending hits $3 trillion as Obamacare and rising drug costs kick in

December 2, 2015 9:01 PM

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U.S. healthcare spending grew 5.3% last year to $3 trillion, another sign that a historic slowdown in medical inflation may be ending, a new federal report shows.

The massive expansion of insurance coverage under the health law and rapid growth in specialty drug spending fueled the uptick in medical costs, officials said. Annual spending growth was 3.7%, on average, during the last five years.

Also read: Our Profiteering Health Insurance Industry: Should The Government Bail It Out Again?

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