From routine doctor visits and care for minor injuries to emergency care, health insurance can protect us financially when we’re sick or injured. However, the cost of a major medical care expense like a hospital stay is often unknown until the final bill arrives.

In this video, I’ll break down the cost of the average hospital stay and the cost of various medical procedures.

CHAPTERS:
0:00 - Introduction
0:35 - What does a hospital stay consist of?
1:30 - Facts that affect how much you'll pay for care
1:59 - How many people stay in hospitals each year?
2:49 - How much does the average overnight hospital stay cost?
4:19 - How health insurance helps lower hospital costs
5:23 - Conclusion

In addition to the services you receive, other factors can impact your hospital bill. These include where you live, what insurance you have, which network you’re in, who your provider is, where you go to receive care, and how you negotiate your medical bill.

For example, inpatient hospital stays are more expensive than ambulatory surgical procedures, while urgent care and physician’s office visits are less costly.

KFF found that the average per-day hospital cost was $3,025 in 2022, which is the most recent data. But, this price tag varies significantly by the type of insurance coverage you have and if you have coverage. It also varies depending on where you live.

Even with insurance coverage, hospitalization costs can be staggering. But, individuals without insurance will be hit the hardest. Those employed at a small business or nonprofit are more likely to face challenges when it comes to having access to health benefits. This is especially true with the rising cost of traditional employer plans. That's where alternative employer-provided health benefits such as health reimbursement arrangements (HRAs) and health stipends can come in handy.

Learn more in our blog post: https://www.peoplekeep.com/blog/infog...

PeopleKeep, powered by Remodel Health, is the leader in personalized benefits for small and midsized organizations. We can help you offer HRAs to your employees, increasing their access to care and saving you money.

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