Despite efforts to mitigate rising healthcare costs, out-of-pocket expenditures continue to escalate, placing a financial burden on millions of Americans, particularly women. Research by GoodRx reveals that in 2024, women will incur nearly 30% higher out-of-pocket expenses on prescriptions compared to men, amounting to over $8.5 billion in excess spending. This disparity is particularly harsh on younger women, many of whom face unique healthcare needs. Addressing these inequalities is crucial, not only to support women's health but also to enhance the overall efficiency of the healthcare system.
Despite ongoing efforts to address increased costs, out-of-pocket spending on healthcare continues to rise. Higher insurance copays and deductibles, increased medication costs, and rising inflation rates are just a few of the factors contributing to this trend.
Each year, women spend billions more than men on out-of-pocket healthcare costs. This latest GoodRx research found that in 2024, women spent nearly 30% more out of pocket on prescriptions than men, totaling over $8.5 billion in additional spending.
But the cost burden isn't equal by gender. Many people have heard of the "pink tax," the pattern of women's goods and services costing more than the men's equivalent. But few realize how far this extends beyond store shelves.
The current state of women's healthcare costs shows that women-specific healthcare needs like fertility and birth control aren't the only drivers of inequitable out-of-pocket costs.
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