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Health care spending expected to grow faster

After years of historically slow growth, health care spending is once again on the rise — and it’s expected to continue to accelerate over the next decade.

Thanks in large part to the expansion of coverage under Obamacare, health care spending in the U.S. is projected to have hit $3.1 trillion, or $9,695 per person, last year. That’s an increase of 5.5%, according to federal estimates released Tuesday. It’s the first time the rate would exceed 5% since 2007.

Some 8.4 million Americans are thought to have obtained insurance through the Obamacare exchanges and from the expansion of Medicaid.