How much does the average person spend each year on medical bills?

The amount an individual spends on medical bills each year can vary significantly based on factors such as their health status, insurance coverage, and socioeconomic status. According to a 2021 study by the Peterson Center on Healthcare and Kaiser Family Foundation, the average American spends approximately $11,072 per year on healthcare expenses, including deductibles, copayments, coinsurance, out-of-pocket prescription drug costs, and premiums for private health insurance. However, this figure can vary depending on the type of health insurance plan, the individual's age, and the region they live in. For instance, individuals with chronic health conditions or those who are uninsured may incur significantly higher medical expenses. It's important to note that these figures represent average spending and may not reflect the experiences of all individuals.