Out-of-Pocket Medical Spending up 10%

out-of-pocket-medical-expenses-accelerateThe medical consumer spent 10% more on out-of-pocket procedures and health services last year, and this trend is forecasted to continue through 2026 according to Kalorama, a healthcare research group.

Key areas highlighted by Kalorama include obesity, aging issues, and mental health services.

Consumer out-of-pocket spending on healthcare is set to hit an estimated $491.6 billion, or about $1,650 per person, in the U.S., according to a recent report. The number is a roughly 10% increase over last year’s total and is expected to maintain a continual annual growth rate of 9.9% for the next five years, according to healthcare market research group Kalorama Information.

As salary growth lags behind these uncovered medical costs, consumers will continue to be stung by inflationary concerns.

Source: Nationwide out-of-pocket spending jumped 10% in 2021. Expect that growth to continue through 2026 | Fierce Healthcare

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