The ability to afford healthcare has reached a 'crisis point,' doctors warn, with spending projected to consume 20% of America's GDP within the next decade. The average American now pays over $15,000 per year in healthcare costs.
Surging Healthcare Costs
Fewer and fewer Americans can afford healthcare, and the situation has escalated to a 'crisis point,' according to an urgent warning from the American Heart Association. With total healthcare spending expected to account for 20 percent of the nation's gross domestic product over the coming decade, medical experts cautioned Thursday that people could face even greater financial strain.
Current total healthcare spending by U.S. adults stands at $5 trillion annually, driven largely by chronic disease, the association's advisory stated. The average person contributed over $15,000 for insurance, hospital visits, medications, and other care, based on the latest data from 2024. That hefty sum exceeded the previous year's costs by approximately $1,000 and contributed to the first rise in America's uninsured population since 2019.
Rising costs often lead people to forgo initial care, increasing the likelihood of more serious health problems and, consequently, greater expenses down the line.
Cardiovascular Costs Set to Quadruple
The American Heart Association, representing 33,000 cardiologists and other specialists, also warned that costs related to cardiovascular disease are projected to quadruple by 2050. Cardiovascular treatment cost nearly $400 billion in the U.S. according to a 2024 study, but could reach up to $1.49 trillion by midcentury.
'Healthcare affordability is one of the defining challenges of our time,' said Dr. Dhruv Kazi, an associate professor at Harvard Medical School, in a statement accompanying the new advisory.
The American Heart Association identified several causes behind rising healthcare costs, including complex administration at facilities and a lack of investment in prevention and public health across the U.S. The doctors called on lawmakers and the healthcare industry to address the crisis.
Call for Action on Out-of-Pocket Costs
The American Heart Association also called for eliminating or minimizing out-of-pocket charges, which have ballooned to an average of $800 per person each year, according to the health system-tracking Peterson-KFF Health System report.
Strategic investments in public health infrastructure and the workforce, as well as shared industry accountability, are also crucial, the association said. The U.S. has faced a decade-long shortage of healthcare workers due to burnout, a rise in chronic conditions, and a slow system unable to meet rising demand.
'Affordability is not just an economic issue—it is a health issue that directly affects lives,' said Nancy Brown, chief executive officer of the American Heart Association.
