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Average Hospital Stay Costs Doubled

Average Hospital Stay Costs Doubled

1.5 minute read

Hospital stays are becoming more expensive for Americans, leaving some with a large amount of medical debt. According to the personal finance website ValuePenguin, U.S. workers making $26.22 (the national average hourly earnings) must work 504 hours to cover a typical out-of-pocket hospital stay. The average hospital stay is 4.6 days and costs those without insurance an average of $2,873 per day for inpatient/outpatient treatment.

The cost of an average hospital stay has increased by 98% since 2004; however, this increase drops to 35% when adjusted for changes in hourly earnings over time.

The data differs depending upon where you live. Wyoming is the most affordable state with residents needing to work only 269 hours to cover the average stay. And Oregon residents need to work the most hours - 646, for the average stay. Those states with the most expensive stays also tend to have the fewest primary care providers per capita.

Rising health care costs are linked to increased market consolidation between health plans, hospitals, pharmacy benefit managers, and other entities. Providers can charge more in locations with fewer providers. The price for medical equipment and prescription drugs also continue to rise.

There are several things an individual can do to reduce hospital costs including selecting an insurance plan that provides the benefits and care they need, establishing a health savings account to provide a safety net in case of medical emergency, and checking medical bills for errors. Download the bulletin for more details.

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National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Nicole Miller

Nicole Miller

When it comes to employee benefits, Nicole Miller is a good person to have on your side. She’s worked in the insurance industry since 2004 and has experience working on both the insurance carrier/agency side. Her customers find her to be dependable, detail-oriented, and highly skilled at simplifying the complex. As Account Manager for National Insurance Services, Nicole works with Michigan schools, cities, and counties on their employee benefits, benefit communication, and wellness plans. She helps employees and employers answer policy-related questions, resolve employee claim issues with carriers, and assists with employee or insurance committee meetings. Nicole is a licensed insurance agent.