Personal healthcare spending increased by 19% from 2018 to 20223, exceeding $6,700 in 2022, according to a new report from the Health Care Cost Institute.
The report includes data on healthcare spending, utilization and average prices from 2018 through 2022 for people aged fewer than 65 years who receive health insurance coverage through an employer.
“Prices, in particular, pose a challenge to affordable and accessible healthcare,” HCC President and CEO Katie Martin stated in a press release issued in conjunction with the report. “This report shows how spending has changed since 2018, and, despite some large impacts from the COVID-19 pandemic along the way, the net effect is that use, prices and spending were all higher in 2022.”
Out-of-pocket spending per person increased approximately 8% from 2018 to 2022, going from about $800 to more than $860 during that time, according to the report. Out-of-pocket spending includes payments made by individuals toward the healthcare services and prescription drug copays, but it does not include the cost of their healthcare insurance payments.
Professional services made up the largest share of per-person spending during the time period studied, at 31.4%, followed by outpatient visits and procedures (38.1%), prescription drugs (23.3%) and inpatient admissions (17.2%).
Per-person spending, according to the report, was highest for adults aged 55 to 64 years old, and it generally increased with age. From age 18 to 54, average spending among females was consistently higher than it was for their male counterparts.
“Spending was slightly higher for males ($12,215) than females ($12,136) among those in the 55–64 age range and in the 0-17 age range ($4,120 for males and $3,650 for females),” the report noted.
