CBO: MA, Part D Drive Higher Medicare Spending In 2024; Medicaid Spending Dips Due To Unwinding

Spending on Medicare will increase by about $65 billion in 2024 due to larger payments to Medicare Advantage and Part D payments, the Congressional Budget Office says, while Medicaid expenditures will decrease by $58 billion, or 9%, because of the massive number of post-pandemic redeterminations. Outlays for major health care programs are also set to increase as a percentage of Gross Domestic Product from 2024 through 2034 with Medicare projected to rise from 3.21 % to 4.2% of GDP and...