Stacked area chart of U.S. health expenditures by select sources between 2019 and 2032 (projected). Total expenditures from private health insurance, Medicare and Medicaid grew from $2.6 trillion in 2019 to $2.8 trillion in 2021 and are projected to reach nearly $5.5 trillion in 2032. Roughly 40% of total expenditures are due to private health insurance, 30% due to Medicare, and the remainder Medicaid.