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High health-care costs are disproportionately impacting women in the U.S. workforce.
A recent analysis of employer-sponsored health plans from Deloitte Consulting reveals that working women spend $15.4 billion more annually in out-of-pocket health expenses compared to men.
On average, women spend 18% more than men on copays and deductibles, excluding costs associated with pregnancy and maternity, as outlined in the new report. Even though total health expenditures for women are only 10% higher than those of men.
“This identifies a solvable problem for business leaders within their own organizations. It is concerning that women earn less and yet pay more for health care,” stated Dr. Kulleni Gebreyes, U.S. Chief Health Equity Officer at Deloitte Consulting.
This results in an unequal financial burden for women.
Women tend to utilize more medical care than men due to factors such as annual gynecological exams and the higher costs of breast cancer imaging.
While annual exams are typically covered, subsequent visits may result in copays and deductibles. These services often exceed the typical deductible, leading to a higher cost-sharing burden.
Deloitte analysts propose that employers can bridge the $15.4 billion gender gap in cost-sharing by enhancing benefits design at an estimated cost of $133 per employee per year, or approximately $11 per month.
“We urge companies to review their data, identify any existing gaps, and adopt an equitable design process to develop health benefits that cater to the needs of their workforce,” Gebreyes added.
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