Out-Of-Pocket Costs Hit Women and Low-Income People Hardest

Low-income people, seniors, and women pay a greater share of their incomes toward out-of-pocket health expenses than do others, according to a new report from the JP Morgan Chase Institute. Paying Out-of-Pocket: The Healthcare Spending of 2 Million U.S. Families finds that out-of-pocket health spending was significantly concentrated among a small group of people, with the top 10 percent of spenders contributing half of all out-of-pocket spending in 2016. The poorest 20 percent of Americans spent an average of almost 3 percent of their take-home income on out-of-pocket medical expenses in 2016 compared to 1 percent spent by wealthier Americans, according to the report. (Source: Spotlight on Poverty and Opportunity)