“Medicare spending is driven by a variety of factors, such as the level of enrollment, the complexity of medical services provided, health care inflation, and life expectancy. The Congressional Budget Office (CBO) estimates that total Medicare spending in 2019 will be about $772 billion; of this amount, about $749 billion will be spent on benefits.

“CBO estimates that the federal portion of Medicare spending (after deduction of beneficiary premiums and other offsetting receipts) will be close to $637 billion in 2019, accounting for about 14% of total federal spending and 3% of GDP. Over the next 10 years, Medicare spending is expected to almost double due mainly to growing enrollment and increasing health care costs.”

Source: U.S. Congressional Research Service. In Focus: Medicare Overview (IF10885; August 8, 2019). https://crsreports.congress.gov/product/pdf/IF/IF10885