Federal spending is going up this year, mostly due to increasesin health spending, according to recentlyreleased projections by the Congressional Budget Office.

The nonpartisan agency projects that mandatory federal outlayswill rise by $168 billion in 2016 –– or 6 percent –– and that $104billion of that will come from increased spending on Medicare,Medicaid, the Children’s Health Insurance Program and subsidies tothose purchasing insurance on the Obamacare exchanges. That amountsto an 11 percent increase in federal health spending over theprevious year.

The CBO is quick to mention, however, that part of the projectedincrease is due to a shifting of certain Medicare payments from2017 to 2016. If not for that, health care spending will only riseby $80 billion, or 8.6 percent.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.