Lifetime Medical Expenses Near 250 Million Won Per Person... Women Spend More Due to Longer Life Expectancy, Cancer Diagnosis Adds Over 100 Million Won

Women Spend 32 Million Won More Than Men
Highest Expenditure at Age 78; Cancer Diagnosis Leads to Over 100 Million Won in Costs
A One-Year Increase in Life Expectancy Raises Medical Expenses by 52%

Elderly residents are using the rooftop garden at a silver care center located in Seoul.

The average lifetime medical expenses incurred by a Korean individual from birth to death are approaching 250 million won per person.

According to the report "Analysis of Health Insurance Medical Expenses Through Lifetime Medical Expense Estimation" released on January 7 by the Health Insurance Research Institute of the National Health Insurance Service, the estimated lifetime health insurance medical expenses per person in Korea, including non-covered items, stood at approximately 246.56 million won as of 2023. This figure represents the total sum of the amount covered by health insurance, the statutory co-payments paid by patients, and the non-covered expenses not eligible for insurance benefits.

The age at which medical expenses peaked was 71 years old (about 1.72 million won) in 2004, but this shifted to 78 years old (about 4.46 million won) in 2023, a delay of seven years. The expenditure itself also surged by 2.6 times over this period.

Elderly people are engaging in crafting activities at a daycare center located in Seoul.

By gender, women spent about 214.74 million won in lifetime medical expenses, which is approximately 32.11 million won more than men (182.63 million won). This difference is primarily due to women living an average of 5.8 years longer than men, accounting for about 117.7% of the gap. As a result, the longer lifespan leads to an extended period of medical service use and higher costs.

An analysis of lifetime medical expenses by type of healthcare institution showed that the largest expenditures occurred at pharmacies (39.93 million won) and clinics (39.84 million won). Tertiary general hospitals (34.97 million won) and general hospitals (33.88 million won) followed. If a person is diagnosed with cancer at age 30, it is estimated that they would spend an additional average of 111.42 million won on cancer treatment alone until death. By cancer type, pancreatic cancer required the highest cost at about 226.75 million won, followed by lung cancer (about 114.98 million won) and breast cancer (about 104.31 million won), each exceeding 100 million won.