Women's healthcare costs significantly exceed men's spending

Healthcare costs for women are rising faster than for men, a trend that continues despite ongoing efforts to control expenses. Increased insurance copays, higher medication prices, and inflation contribute to this burden. Many Americans are facing medical debt and may delay or skip necessary treatments. This issue is not just about general healthcare costs; it also reflects a significant gender gap. Research shows that in 2024, women spent nearly 30% more than men on out-of-pocket prescription costs, amounting to over $8.5 billion extra. Women aged 18-44 face even higher expenses, partly due to reproductive health needs. The disparities extend beyond women-specific issues. Women also spend more on common health conditions, such as mental health treatments. They pay significantly more for medications related to depression and anxiety. As women reach menopause, costs can increase dramatically, with billions spent annually on managing symptoms. While the gap narrows among older adults, women still pay more. For instance, women aged 45-64 spent over 35% more than their male counterparts in 2024. Medicare coverage and similar health issues among this age group can help close the gap. Healthcare leaders must act to level the playing field. Addressing these costs requires changes in policies, insurance benefits, and product innovation. An overwhelming majority of women must benefit from equal access to healthcare. At GoodRx, efforts are underway to make essential medications more affordable for women. This includes savings on fertility treatments and access to over-the-counter birth control. These initiatives aim to tackle some disparities, but more action is necessary. Reducing the pink tax in healthcare is vital for improving overall health in communities. Affordable healthcare can enhance the quality of life for women and their families. Collaboration among all stakeholders in the healthcare system is needed to bring about meaningful change.