health care

Health Care Spending Growth Remains Slow

Due to weak economy

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America continued to curb its spending on health care for the fourth year in a row.

Spending on health care grew by only 3.7% in 2012, continuing a streak of the slowest growth rates on record, according to data released Monday by the Centers for Medicare and Medicaid Services.

The report looked at all spending on health care services, including doctors, drugs, hospitals and nursing homes, and research nationwide. It also breaks down who is doing the spending: consumers, Medicaid, Medicare and insurers.

Spending remained restrained due to the weak economy. People continued to pull back on medical care amid a continued weak job market and providers sought to keep prices in check. The Affordable Care Act had minimal impact, as many of the health reform's major provisions had yet to kick in.