In 1970, some 7.5 billion U.S. dollars were spent on the Medicare program in the United States. Fifty plus years later, this figure stood at 1,037 billion U.S. dollars. This statistic depicts total Medicare spending from 1970 to 2023.
Medicare costs are forecasted to continue increasing over time, with outlays rising to a predicted 1.78 trillion U.S. dollars by 2031 as the population continues to age. Certain diseases of old age, such as Alzheimer’s disease, are increasing in prevalence in the U.S., which will reflect on healthcare costs for the elderly. In 2021, Alzheimer's disease was estimated to cost Medicare and Medicaid around 239 billion U.S. dollars in care costs; by 2050, this number is projected to climb to 798 billion dollars.
Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)*
**Includes (i) a transfer of $37.8 billion in calendar year 2020 from the general fund of the Treasury to Part B, which occurred in November of 2020 for the outstanding balance of the Medicare Accelerated and Advance Payments (AAP) Program, as required by the Continuing Appropriations Act, 2021 and Other Extensions Act, and (ii) subsequent recoveries from providers that were transferred from Part B to the general fund of the Treasury in the amounts of $14.3 billion, $21.7 billion, and $1.7 billion in calendar years 2021 through 2023, respectively.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
CMS. (May 6, 2024). Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)* [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/
CMS. "Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)*." Chart. May 6, 2024. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/
CMS. (2024). Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)*. Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/
CMS. "Total Medicare Spending from 1970 to 2023 (in Billion U.S. Dollars)*." Statista, Statista Inc., 6 May 2024, https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/
CMS, Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)* Statista, https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/ (last visited December 13, 2024)
Total Medicare spending from 1970 to 2023 (in billion U.S. dollars)* [Graph], CMS, May 6, 2024. [Online]. Available: https://www.statista.com/statistics/248073/distribution-of-medicare-spending-by-service-type/