Out-of-pocket healthcare spending up—but remains steady as share of take-home income
The JPMorgan Chase Institute Healthcare Out-of-pocket Spending Panel (JPMCI HOSP) included 2.3 anonymized Chase customers from 18 to 64 years old between 2013 and 2016. The study found out-of-pocket spending on healthcare jumped up from $629 per family to $714—and increase of 14 percent. But healthcare remained spending remained relatively constant as a share of take-home income (1.7 percent in 2013; 1.6 percent in 2016) and total spending (1.1 percent; 1.2 percent).
“[The panel] provides a first-ever look into out-of-pocket healthcare spending for households on a month-to-month basis, at the state, metro and county level, and as recent as 2016,” wrote the authors. “In this report, we describe the creation of, and initial insights gleaned from, this new data asset.”
Read more about the wide-reaching study at HealthExec.com:
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.