Financial Management Insight flipbook 2024

Even with insurance, health costs can be a financial burden. In 2022, 23% of adults had major, unexpected medical bills to pay. Source: Federal Reserve, 2023 (2022 data, most current available) A Bitter Pill Health-care costs for the typical American family of four with employer coverage reached $31,065 in 2023. The family’s share amounted to $12,822 in payroll deductions and out-of-pocket expenses— more than the family would spend on groceries. Source: Milliman Medical Index, 2023 $28,310 2021 2022 2023 $29,424 $31,065 Annual health-care costs for a family of four