The Healthcare Costs of Obesity
The World Health Organization and CDC both define obesity as a chronic progressive disease resulting from multiple environmental and genetic factors. It has also been associated with poorer mental health outcomes and reduced quality and length of life. Moreover, obesity has become a burden to the economy. In fact, healthcare costs of obesity-related illnesses are nearly 21% of annual medical spending in the United States. This is equivalent to $190.2 billion a year! Not to mention, obesity is associated with job absenteeism costing the US an addition $4.3 billion annually.
This may seem staggering, but let’s look at how much it costs you as an individual to live with obesity each year.
Average Cost of Obesity at the Individual Level
The annual costs of being obese can be up to $4,879 for an obese individual. This is nearly 15 times higher than the total costs of their healthy counterparts. Direct medical costs account for the majority of costs borne by obese men and women. However, obese women incur additional costs in loss of wages throughout the year due to their obesity. Studies show obese women make 6% less a year than those of normal weight. To add insult to injury, life insurance premiums are also more expensive for the obese individual. More shocking, annual costs rise significantly for obese individuals with diabetes. To treat Type 2 Diabetes each year, an individual will shell out an additional $13,700 on average. In all, obesity can cost an individual up to $21,000 a year!
Weight Loss Surgery is a Wise Investment to Start Saving Today
The one good thing about obesity – it’s reversible. You CAN get rid of the excess weight and shed the extra costs associated with the condition. Not to mention, you’ll increase your lifespan and can even reverse any additional conditions such as diabetes, high blood pressure and sleep apnea.
While diet and exercise may have failed, weight loss surgery can help. In fact, the National Institutes of Health recognizes bariatric surgery as the only effective treatment to combat obesity and keep weight off long-term. But you’re probably asking yourself, “What’s the cost?”.
Weight loss surgery is an investment. Not all insurance companies cover weight loss surgery. Patients that utilize insurance on average pay $3,500 in out-of-pocket expenses. Patients without insurance coverage can pay upwards of $13,000. While this may seem like a shocking number, take into account the average cost you are incurring for being overweight each year.
Studies have shown that starting a year after weight loss surgery, patients can save upwards of $11,000 a year. This accounts for fewer prescriptions, less food intake, reduced medical costs, increased productivity in the workplace and a healthier lifestyle overall. This means within 2 years of your surgery, you’ll already have broke even and started reaping the benefits of your cost effective investment.
Interested in learning more about costs and financing? Call one of our specialists today at 888.575.4526 to get a free insurance verification quote. We’ll provide you all the costs upfront and explain your options should you want to finance your procedure.