No, the rate of increase in Medicare???s per capita spending is roughly in line with increases in national health spending. For much of the last 45 years, Medicare???s per capita spending has increased annually at somewhat slower rates than private health insurance spending. This fact is sharply different from the rates of increase in overall program spending. As the proportion of those older than 65 increases (as it has increased steadily for decades and will do so more sharply in the next decade), Medicare???s overall spending must increase and the spending of the cohort under 65 will necessarily fall somewhat. This is not a cost increase itself, but a shifting from one source of funding to another. See the projected increase below in the total Medicare spending as an example.
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