The report — an update to CBO’s budget and economic outlook — found that Medicare spending will grow from 3.7 percent of the Gross Domestic Product next year to 4.3 percent in 2022.
That’s despite the health care law’s $716 billion in Medicare savings over the next 10 years. Those savings are accomplished mainly by slowing the growth of payments to providers and Medicare Advantage plans, but Mitt Romney and Paul Ryan have been blasting the cuts as a “raid” on Medicare itself.
Federal Medicaid spending, meanwhile, will increase from 1.7 percent of GDP in 2013 to 2.4 percent in 2022. Those projections factor in the Supreme Court decision that made the health care law’s Medicaid expansion optional, CBO stated.