Costs of Healthcare

For today, let’s stick with the consumer costs of healthcare.  Wired Magazine has a very cool graphic in their August 2007 publication (pg. 52) which shows how consumer spending breaks out.  (Note this is for an average household expenditure of $46,408 which obviously ignores the poor and working poor.)

The focus is on technology which they get down into single dollar expenditures.  But, I thought the healthcare data was interesting – $1,361 (3%) on health insurance and $405 (1%) on prescription drugs.  Both seem staggering low to me especially at a household level.  I think we spend $200-$300 per month on prescription copays in my family (and we are pretty healthy).

But, this is the type of data we need to understand and if you are targetting consumers, it is helpful to know how they prioritize their spending based on where it goes.  More to come to spending.  (And then we will have to look at the employer costs.)

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