Sept. 9 (Bloomberg) -- The U.S. health overhaul that Democrats said would slow the rising costs of health care will have little overall effect on spending in the next 10 years, according to an analysis by government actuaries.
By 2019, U.S. health-care spending will make up almost $1 of every $5 spent in the country, or 19.6 %, of gross domestic product, according to the report. Over the decade, costs will increase by 6.3 % each year -- 0.2 % faster than before the law was signed by President Barack Obama in March.
“The overall net impact is moderate,” Andrea Sisko, an economist with the Centers for Medicare and Medicaid Services’ Office of the Actuary, said at a press conference. The government analysis appeared today in the journal Health Affairs.
Reducing the rate of growth in health-care costs was a central goal of Obama’s overhaul championed by the administration and congressional Democrats. Proponents argued lowering costs for the public and private sector would keep the country from being overwhelmed by the expense of delivering health care.
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