Obamacare will help slow the growth of healthcare costs over the next decade, according to a federal government report released Wednesday.
The Centers for Medicare & Medicaid Services said an improving economy and better access to health coverage will help curb hospital and drug spending this year.
In addition, the rate of spending growth over the next decade in hospital and prescription drug spending, out-of-pocket spending, and Medicare spending are projected to be lower than the peak growth rates from the last decade. That's despite an anticipated influx of baby boomers into the Medicare program in the coming years.
The agency also touted an expected drop in out-of-pocket spending from 11.4 percent in 2012 to 9.1 percent in 2022, thanks in large part to an expansion of insurance coverage.
However, the expansion of health insurance coverage over the coming year is expected to drive physician and clinical spending growth from 4.6 percent in 2012 to 7.1 percent in 2014.