National enrollment, expenditure trends, and Part mix for the Medicare fee-for-service program.
Americans 65+
58.0M
U.S. population aged 65 and older
Medicare Enrolled
+1.5% YoY
67.0M
Total beneficiaries (Parts A, B, C, D)
Total Expenditure
+8.8% YoY
$1,028B
CMS gross program spending FY 2023
Avg. Spend / Beneficiary
$15,343
Annual per-capita cost across all Parts
Part B share42%
Expenditure Trend & Projection
Actual FY 2019–2023 with CBO-style 4-year projection
Projection assumes ~8–9% annual growth driven by beneficiary growth and per-capita cost inflation.
Spending by Part
FY 2023 · $B
Part A — Hospital
$419B
41%
Part B — Physician / Outpt.
$433B
42%
Part D — Drug coverage
$121B
12%
Part C — MA admin / other
$55B
5%
Source: CMS Medicare Fee-for-Service Claims, Part D, and MA plan data. FY 2023 figures are preliminary. All dollar amounts in nominal USD billions. Explore the Map, Procedures, or RVU views for deeper analysis.