Schaumburg, IL, United States (AHN) – The Society of Actuaries, in a study, has calculated the total economic cost of the overweight and obesity epidemic in the U.S. and Canada reaches $300 billion per year. Ninety percent of the total – $270 billion – is directly attributed to the United States.
Financial analysts specifically looked at the economic costs of being overweight and obese caused by increased need for medical care and loss of economic productivity resulting from excess mortality and disability.
“We found substantial evidence that overweight and obesity are becoming worldwide epidemics, and are having negative impacts on health and mortality,” said Don Behan, an independent consulting actuary who helped prepare the report.
The organization divided the $300 billion finding into specific causes of economic costs. According to the SOA, the figure breaks down into the following economic costs per year:
- Total cost of excess medical care caused by overweight and obesity: $127 billion
- Economic loss of productivity caused by excess mortality: $49 billion
- Economic loss of productivity caused by disability for active workers : $43 billion
- Economic loss of productivity caused by overweight or obesity for totally disabled workers: $72 billion
Additionally overweight and obesity have been proven to increase the rate of several common adverse medical conditions, resulting in the exorbitant economic cost to society.
Researchers in a nationwide poll of Americans also found that 83 percent of those polled would be willing to follow a healthy lifestyle, such as participating in a health and wellness program, if incentivized through their health plan.
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