Medicare spending per beneficiary experienced an average annual growth rate of 4.6 percent between 2000 and 2022, according to KFF’s analysis. The influx of the Baby Boomer Generation and the rising enrollment of adults aged 80 and older contributed to increased healthcare utilization. Factors such as new technologies and rising prices also played a role. The per-beneficiary Medicare expenditures ranged from $5,800 in 2000 to $15,727 in 2022.
According to an analysis conducted by KFF on June 6, the average annual growth of Medicare spending per individual was 4.6 percent between 2000 and 2022. This analysis was based on data obtained from the 2023 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds.
KFF’s analysis noted that the introduction of the Baby Boomer Generation into Medicare starting in 2011 brought in a significant number of relatively younger and healthier individuals. Additionally, the proportion of adults aged 80 and above enrolled in the program continued to rise. The increased utilization of healthcare services, the availability of new technologies, and escalating prices were cited as factors contributing to the growth in healthcare spending.
Here are the per-beneficiary Medicare expenditures for each year since 2000:
– 2000: $5,800
– 2001: $6,370
– 2002: $6,788
– 2003: $7,144
– 2004: $7,722
– 2005: $8,278
– 2006: $10,179
– 2007: $10,702
– 2008: $11,232
– 2009: $11,696
– 2010: $11,902
– 2011: $12,166
– 2012: $12,204
– 2013: $12,199
– 2014: $12,433
– 2015: $12,733
– 2016: $12,924
– 2017: $13,135
– 2018: $13,579
– 2019: $14,189
– 2020: $14,373
– 2021: $15,139
– 2022: $15,727
