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  • Writer's pictureScott Clendaniel

How Much Has Healthcare Costs Changed Over The Last 10 Years

Over the last 10 years, the cost of healthcare has increased dramatically. This increase has been caused by several factors, including rising drug prices, an aging population, and an increase in chronic illnesses.


Between 2010 and 2020, the average cost of healthcare in the United States increased significantly. In 2010, the average cost of healthcare was around $8,000 per person annually. By 2020, this number had risen to over $11,000 per person per year.


This increase in healthcare costs has had a significant impact on American families, many of whom struggle to afford medical care. According to a recent study, almost one-third of Americans say that they have had to skip necessary medical care because of the cost.


One of the primary reasons for the increase in healthcare costs over the last decade has been the rising cost of prescription drugs. Between 2012 and 2016, the average price of a prescription drug in the United States increased by 9.8% per year. This is far higher than the rate of inflation during the same period, which was just 1.7%.


Another factor contributing to the rise in healthcare costs is an aging population. As baby boomers continue to age, there is an increasing demand for healthcare services. This demand is expected to continue to grow in the coming years as the number of older Americans continues to increase.


Chronic illnesses are also contributing to the rise in healthcare costs. As more Americans are diagnosed with chronic conditions like diabetes and heart disease, there is an increasing demand for medical services. These conditions require ongoing care and treatment, which can be expensive.


In conclusion, the cost of healthcare in the United States has increased significantly over the last 10 years. This increase has been caused by rising drug prices, an aging population, and an increase in chronic illnesses. As the demand for healthcare services continues to grow, it is likely that healthcare costs will remain high.


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