However, medical costs are only part of the additional costs paid by overweight or obese individuals. Until recently, it was unclear how much being obese costs on an annual basis for individuals.
A new report from the George Washington University School of Public Health and Health Services Department of Healthy Policy outlines some of the individual costs linked to being overweight and obese[1]. While the full report is free to download and read, some of the most important revelations are briefly discussed below.
Direct Medical Costs. Being obese costs an individual person $1,474 dollars a year in direct medical costs. This includes $433/year inpatient costs, $458/year non-inpatient costs, and $586/year in prescription drug costs. One study reported that costs increase with higher body weights; a moderately obese person (BMI 30 to 34.9) pays about $800 more per year than a normal weight person, while a morbidly obese person (BMI >40) pays about $2,800 more per year than a normal weight person.
Income. Results of the analysis conducted for this new report indicated that obese female full time employees make $1,855 less per year compared to normal weight women. Annual lost wages was only $75 for obese men compared to normal weight men.
Productivity. According to this report, studies have shown that on average obesity causes a reduction in productivity at work. The loss of productivity linked to obesity equaled $358 per obese employee.
Short-term Disability. Several studies have indicated that obese workers are more likely to suffer a short-term disability than normal weight workers. These studies suggest that an overweight employee is at a 26% increased risk for a short-disability event and that an obese worker is at a 76% increased risk for such an event. These increased risks translated to increased costs. The number of days lost due to illness cost an additional $55 per year for the average overweight individual and an additional $349 per year for an obese individual. Annual costs for disability pension insurance were approximately $70 higher for obese individuals.
Personal Costs. This new report examined two personal costs, gasoline cost and life insurance cost. Morbidly obese individuals spent $30/year (men) and $36/year (women) more in gasoline costs than normal weight individuals. In regards to life insurance costs, overweight individuals typically pay an additional $14/year, while obese individuals will generally pay an additional $111/year.
Life Expectancy. Obesity reduces life expectancy in men more so than it does in women. In Caucasian men life expectancy is reduced by about 5 years, whereas life expectancy is reduced by 4 years in morbidly obese Caucasian women. The value of life lost due to obesity was reported to be $3,486/year for men and $3872/year for women.
Total Costs.
The total reported costs for being overweight is $524 per year for women and $432 per year for men.
The yearly costs associated with being obese is $4,879 for women and $2,646 for men.
If the loss in life expectancy is included, the cost of being obese is $8365 per year for women and $6,518 per year for men.
It is clear from this new report, that being overweight or obese can have a major impact on an individual's finances. Not counting the value associated with life span, it costs about $3,000 - $5,000 per year more to be obese compared to having a normal body weight. While some of the costs outlined in this report are shared with employers and government institutions a number of costs come directly out of a person's pocket. The study investigators indicated that these costs are likely to be underestimated because many other consumer-related costs like travel costs, clothing costs, automobile size, and other goods and services have not been studied. Reducing one's body weight and maintaining a healthy body weight not only has numerous health benefits, but also apparently can impact personal finances.
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