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Milliman Medical Index: Healthcare costs reach $6,553 for the average American, $28,653 for hypothetical family of four

SEATTLE, May 21, 2020 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the 2020 Milliman Medical Index (MMI), which measures healthcare costs for individuals and families receiving coverage from an employer-sponsored preferred provider plan (PPO).
Milliman Medical Index: Healthcare costs reach $6,553 for the average American, $28,653 for hypothetical family of four
"This year healthcare costs grew by approximately 4.1%, which is consistent with recent years but still outpaces growth in gross domestic product," said Chris Girod, co-author of the Milliman Medical Index. In 2020, healthcare costs for our hypothetical family of four reached $28,653. Healthcare costs for the average person are at $6,553. While these are averages, the MMI allows for greater specificity thanks to an interactive tool that was first released last year. A "The MMI can now estimate the cost of healthcare for different types of families," said Paul Houchens, co-author of the MMI. "Using our interactive cost tool, you can choose the demographic factors of your particular familya??such as age, gender, and locationa??and see how they contribute to your family's own healthcare costs."
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