As the average family brings in more income, they also tend tospend more on out-of-pocket health care costs, according to JPMorgan ChaseInstitute’s report, “Paying Out-of-Pocket- The Healthcare Spending of 2Million US Families.”
The institute analyzed the health care-related expenditures of 2.3 million Chase Bankcustomers, aged 18 to 64, between 2013 and 2016 (the names of thecustomers weren’t identified within the analysis). The analysisincluded payments made using either a Chase credit or debit card,or electronic bill pay, and excluded health care payments made viacash, check, non-Chase cards in health reimbursement accounts,premium payments and health insurance reimbursements.
The analysis found that families spent on average $714 or 1.6percent of their take-home income on out-of-pocket health carespending in 2016. Out-of-pocket health care spending grew by anaverage annual rate of 4.3 percent between 2013 and 2016, andremained a relatively constant share of take-home income.
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Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
