Healthcare Spending Rises in America

The cost of healthcare in the United States continues to increase. A new study reveals that the average American spent $10,739 on healthcare last year. However, these figures are skewed by people who had significant medical issues.

Medical costs in the United States are higher than most industrialized nations. The good news is that there are ways people can reduce the odds of a significant medical issue.

Healthy Lifestyle

The best way to save money on healthcare costs is to live a healthy lifestyle. Few people invest in their health by eating a healthy diet and exercising regularly. Studies indicated that people who eat a balanced diet are much less likely to become overweight.

People who struggle with maintaining a healthy weight are at a much higher risk of developing diabetes and cancer. By making a few lifestyle adjustments, the vast majority of people can look and feel better.

Paying for Care

With healthcare costs rising, it is essential for people to understand the best ways to pay for healthcare. Health insurance costs are higher than ever before. As premiums increase, many people look for plans with a high deductible. The problem with this strategy is that people with medical issues end up paying much more for care.

A health savings account is available for people with qualifying health insurance plans. These accounts are funded with pre-tax income, which is a huge financial advantage for people who utilize the benefits.

Future Issues

The United States has a low birthrate. This means that the average age of the population will continue to rise over time. An older population means that healthcare costs will keep growing in the coming decades. Some people are hopeful that new technology can drastically reduce the cost of healthcare. Others think that medical expenses will continue trending higher until the government provides free healthcare for everyone.

Reference: https://www.washingtonexaminer.com/policy/healthcare/us-healthcare-spending-rises-to-3-5-trillion