The typical working family in the U.S. spent $3,960 on healthcare-related costs in 2024, including premiums and out-of-pocket expenses, according to a Jan. 13 report from the Center for Economic and Policy Research.
The report analyzed 2024 data from the Census Bureau’s Current Population Survey and found a high cost burden among working families, defined as those with at least one worker between the ages of 18 and 64.
Here are six findings from the report:
1. One in 8 working families spent more than 10% of their income on healthcare.
2. Ten percent of working families paid more than $14,800 in premiums and out-of-pocket costs.
3. Healthcare expenditures rose with education levels, from $1,575 for families with a worker who did not finish high school to $5,700 for families with a worker who holds an advanced degree.
4. Among families in the bottom income quintile, 22.1% spent at least 10% of their income on healthcare. The same was true for 16.9% of families in the second quintile and 17% in the middle quintile.
5. In the upper-middle-income bracket, 11.2% of families spent more than 10% of their income on healthcare.
6. Families in rural areas faced higher burdens: 18.8% spent more than 10% of their income on health insurance.
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