Investing.com - U.S. health care spending will grow an average of 5.5% a year between 2017 and 2026, when it is projected to reach 19.7% of the economy.Those are the projections of a new report by the U.S. Centers for Medicare and Medicaid Services.Health care spending now accounts for 17.9% of GDP, or $10,348 per person, much more than other wealthy nations.Switzerland is second at 13.0%, or $7,919 per person. The average cost of health care spending for wealthy nations is $5,169.The difference in health care spending has soared over the past five decades. In 1970, it accounted for 6% of GDP, versus an average of 5%. The turning point was the 1980s, when spending rose 10% a year.Even though it spends the most, the U.S. ranks among the worst of the 35 OECD nations in life expectancy and infant mortality. Americans also visit doctors less often than citizens of other countries.Spending is higher because the U.S. uses more expensive medical technology and patients pay more for health care goods and services.