Health Care Spending for Employer-Sponsored Insurance Hits $6,743 Per Person in 2023
According to the Health Care Cost Institute's latest report, health care spending per person with employer-sponsored insurance reached $6,743 in 2023. This represents an 18.8% increase from 2019 and is primarily driven by rising prices rather than increased utilization of services. From 2022 to 2023 alone, spending per person grew by 6.5%, with average price increases at 6.7%. The report highlights that hospital facility costs accounted for over half of the total spending. Prescription drug spending also saw significant growth, particularly in GLP-1 medications, which increased more than fourfold from $45 to $197 per person between 2019 and 2023. Out-of-pocket expenses rose by 10.3% over the same period but remained lower than overall spending increases. The findings underscore affordability challenges for Americans with job-based coverage, as nearly half of U.S. residents rely on employer-sponsored insurance.
Topics: affordability employer-sponsored insurance health care spending price growth