The Federal Government Will Spend $685 Billion Subsidizing Health Care in 2018

Julia Cohen – May 23, 2018

The federal government will spend $685 billion subsidizing health care for people under 65 in 2018, according to a Congressional Budget Office report released Wednesday.

The funds are expected to equal 3.4 percent of gross domestic product in 2018, creeping up to 3.9 percent by 2028. The majority of this money will go towards Medicaid and the Children’s Health Insurance Plan, which covers about a quarter of Americans under the age of 65.

Over the next ten years, the Affordable Care Act’s Medicaid expansion is set to cost the federal government an additional $842 billion in addition to what they would have had to pay for without the Obama-era health care reform, according to the report.

http://dailycaller.com