Consumer Reports released its annual consumer reports for 2016 and 2017, revealing that healthcare costs continue to rise year-over-year, and that consumers are facing growing uncertainty.
The consumer watchdog, which is based in Washington, D.C., released its 2016 report Monday, highlighting the ongoing challenges facing consumers and their healthcare providers.
The report showed that costs in healthcare increased $8.5 billion between 2016 and 2019, with healthcare costs in the U.S. increasing by more than $10,000 per capita.
While overall healthcare costs were up $6.5 trillion, the healthcare cost increases were the largest in seven years, rising $8,637 for a single person, according to the report.
As a result of the increase in healthcare costs, the average consumer’s monthly healthcare expenses rose from $7,921 in 2016 to $10 and $11 in 2019, according the report, which also noted that costs rose for both adults and children.
The report also showed that healthcare spending on prescription drugs and medical devices was up $2.2 trillion between 2016 to 2019, or about a $2,700 increase per person, or a $1,600 increase per family.
Overall, the consumer watchdog noted that health spending rose $9.9 trillion between 2014 and 2019.
While the consumer’s total healthcare spending increased, it rose in only nine states, including New York, Massachusetts, Vermont, Michigan, Pennsylvania, and Florida, the report found.
The overall consumer spending increases were $9,636 in Vermont, $7.9 billion in Massachusetts, $4.7 billion in New York and $3.8 billion in Florida.
The Consumer Reports report also found that health costs increased by $8 billion per person for all age groups.
It was the largest increase in the consumer spending category, rising by $1.4 billion for seniors, and $2 billion for children under age 5.
Overall consumer spending on health care rose $2 trillion from 2014 to 2019.
The average consumer spent $1 trillion on health in 2019.
While overall healthcare spending rose in five states, the cost increases rose in two states, Illinois and Michigan, according for the report and the Consumer Reports website.
The number of people who were uninsured or underinsured increased from 7.1 million in 2019 to 9.9 million in 2020, according according to a report from the Centers for Medicare and Medicaid Services, and 6.6 million in 2021.
The study noted that healthcare premiums for the uninsured rose by $6,700 from 2019 to 2020, and were up by $3,700 for people who are older than 65 and $4,700 on people with disabilities.
The rise in healthcare premiums was a result, in part, of a $4 billion increase in premiums for Medicare Advantage plans that are offered through the Medicare program.
However, healthcare premiums rose by about $1 billion for Medicaid beneficiaries, and for people without health insurance, the study found.
The increase in premium increases for people with Medicaid has led to increased demand for care in the healthcare system, with more people accessing care at higher cost.
The Consumer Reports study found that consumers were increasingly looking to private insurance companies to help cover costs, especially for those with pre-existing conditions, as more and more Americans become insured.