Healthcare out-of-pocket spending rises to $491B

Listen

A report from medical research company Kalorama Information shows total out-of-pocket healthcare spending by consumers has reached an estimated $491.6 billion in 2021, a 10 percent increase from 2020 with an anticipated increase of 9.9 percent through 2026, a July 29 press release said.

Contributing factors to the spending growth include managed care organization cost shifting, the Affordable Care Act's Individual Mandate Repeal, business and economic trends, and demographic trends such as obesity, aging and chronic conditions.

Factors that could slow out-of-pocket spending growth include lower-cost medications, increased use of disease management programs and low premium, high deductible health plans, the press release said.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars