Driven by affordable health insurance and an aging U.S. population, health care spending over the next decade is projected to outpace the gross domestic product (GDP) by slightly more than 1 percent.

That's what a study of health care spending trends by the Centers for Medicare and Medicaid Services says. CMS expects last year's increase to clock in at 5.5 percent when all the numbers are tallied. Looking ahead, CMS projects a 5.8 percent annual growth rate through 2024—1.1 percent higher than the rate projected for the GDP.

"After six years of national health spending growth hovering near historically low rates, we're projecting faster growth in health spending over the next decade reflecting expanded insurance coverage under the ACA, expectations of continued improvements in the economy, and population aging," says Sean Keehan, the study's lead author. "However, these projected growth rates are significantly lower than those observed over the three decades prior to the recent recession."

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