It’s no secret that health care in the U.S. can cost you a lot, with and without health insurance.
When you add up your health insurance costs, deductibles, premiums, copays and out-of-pocket expenses, it can be a daunting dollar amount.
Many health and medical-related organizations have done the work, crunched the numbers and analyzed just how costly it can be. Here is a list of 12 health care statistics from these organizations that show just how costly it can be in the U.S.:
- Total U.S. health care spending is expected to reach $4.8 trillion in 2021, accounting for one-fifth of the U.S. economy, according to the Centers for Medicare and Medicaid Services.
- Medical bills are the leading cause of bankruptcy in the U.S., according to a 2013 analysis by NerdWallet Health. And, beyond bankruptcy, it was estimated that nearly 56 million Americans between the ages of 19 and 64 will have trouble paying for their medical bills.
- A 2012 analysis by the Kaiser Family Foundation revealed that an estimated 1 in 3 Americans have difficulty paying their medical bills.
- In 2012, spending for dental care services reached $110.9 billion – out-of-pocket spending accounted for 42% – according to research from the Centers for Medicare & Medicaid Services.
- According to a 2012 survey by Consumer Reports National Research Center, the average cost of a root canal is $1,201 without insurance or a discount program.
- Americans spent an average of $898 on medications in 2012, according to a study from the IMS Institute for Healthcare Informatics.
- According to the Centers for Disease Control & Prevention, prescription drugs account for 9.7% of America’s national health expenditures.
- An article in The Atlantic last year says, “The average cost of a visit to the emergency room was $2,168 for more than 8,000 patients across the U.S.”
- According to the Milliman Medical Index report from 2013, a family of four with employer benefits averaged $3,600 in out-of-pocket health costs.
- According to a report from Towers Watson/National Business Group on Health, employees are paying 28% more for employer-sponsored health insurance than they were three years ago.
- The same report from Towers Watson/National Business Group on Health also revealed that out-of-pocket health costs, like deductibles and copays, have been rising an average of 40% each year since 2011.
- According to an estimate from Fidelity, a 65-year-old couple retiring in 2014 will need more than $200,000 to cover potential medical expenses throughout their retirement.
While these are all staggering figures and costly statistics on health care in the U.S., many Americans are finding ways to save money on health costs where they can.
For examples on how to cut your medical expenses, you can check out these tips from AOL Daily Finance and FOX Business, which include a tip to save money ancillary services typically not covered by health insurance, like dental care and vision, through a discount health program.