In 2020, Medicare spending comprised 12 percent of the federal budget and 20 percent of national healthcare spending overall, according to the Kaiser Family Foundation.
Those figures are part of an interactive dataset released by the foundation April 26 examining Medicare costs.
Six things to know:
1. Medicare benefits totaled $769 billion in 2020, up from $200 billion in 2000. That's an annual growth rate of 7.1 percent.
2. Over that same span, Medicare spending per person grew from $5,800 to $14,400. That's an annual growth rate of 4.6 percent.
3. From 2000-2010, the average annual growth rate in spending per person was 7.4 percent for Medicare and 7 percent for private insurers.
4. From 2010-2020, the average annual growth rate in spending per person was 1.9 percent for Medicare and 2.8 percent for private insurers.
5. In 2030, 54 percent of Medicare spending will be for Medicare Advantage plans. In 2021, Medicare Advantage plans accounted for 46 percent of spending.
6. Medicare enrollment is projected to grow from 63 million in 2020 to 93 million in 2060.
Read the full report here.