Oklahoma Ranks Among States with Largest Increase in Healthcare Costs per Capita

Strategic Insights -

Health care costs have risen substantially across the U.S. over the past decade, with Oklahoma recording one of the biggest increases, according to a study by Steno Health. The research reveals that Oklahomans shoulder a significant burden, with out-of-pocket costs eating up 16% of median income. Local policy, provider access, and demographics play a crucial role in shaping cost trends, with Oklahoma and other states experiencing varying degrees of increase. The study highlights a growing disparity in health care cost burdens across states, with some seeing increases nearly seven times higher than others.

Key Takeaways:

  • Oklahoma ranks among the states with the eighth largest increase in health care costs per capita from 2019 to 2023, with a 26.6% rise, tying with Florida.
  • The cost for Oklahomans grew by $1,760 in those five years to reach $8,382, which is still $813 below the national average.
  • Local factors, such as policy decisions, demographics, and health care infrastructure, significantly impact health care costs across the nation.
  • State-level dynamics, like South Dakota's highest per-person spending ($11,511) and Utah's lowest cost at $6,833 but third-highest percentage increase at 29.9%, contribute to varying cost trends.
  • Americans' average yearly out-of-pocket health care costs rose from $763 to $1,425 over the past two decades, outpacing inflation.
  • Out-of-pocket costs represent the amount of money spent by individuals on health care not paid for by a health insurance plan or public program.
  • Oklahomans pay an average of $854 in out-of-pocket health care costs annually, which is low among the 50 states but represents the fifth-highest percentage (16.11%) of the median monthly household income.
  • Maryland residents pay the least in out-of-pocket costs, at around 9%, making Oklahoma's 16% figure stand out.
  • The study ranks Oklahoma 10th highest for the average price of Lipitor, a prescription drug used to lower bad cholesterol, at $492.50 for five pens.

Statistics:

  • From 2019 to 2023, health care costs in Oklahoma increased by 26.6%, tying with Florida for the eighth largest increase in health care costs per capita.
  • The cost for Oklahomans grew by $1,760 in those five years to reach $8,382.
  • Americans' average yearly out-of-pocket health care costs rose from $763 to $1,425 over the past two decades, outpacing inflation.
  • Out-of-pocket costs represent the amount of money spent by individuals on health care not paid for by a health insurance plan or public program.
  • Oklahomans pay an average of $854 in out-of-pocket health care costs annually.
  • The average price of Lipitor in Oklahoma is $492.50 for five pens, ranking 10th highest among the states.
  • The average yearly out-of-pocket health care costs in the U.S. are $1,425.

Sources:

  • Steno Health
  • Bureau of Economic Analysis
  • KFF (nonprofit health policy organization)
  • WalletHub
  • Chip Lupo, WalletHub analyst
  • Alex Milani, medical director at Steno Health