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Island spends more on health than ten years ago

Bermudians are spending more than double the amount on health care than a decade ago, according to the latest statistics.

The new Household Expenditure Survey (HES) 2004, released on Thursday, said health care cost is a major expenditure for households, taking up around 8.6 percent of the average weekly budget.

At that percentile, the average home spent more on health care in 2004 than on transportation (7.9 percent), foreign travel (5.4 percent) and education (4.1 percent).

The average home spent $6,919 per year on health care in 2004, the HES said, representing a 156 percent rise from the amount spent in 1993.

In 2004, Bermuda?s homes spent $133 per week on health care but just $73.59 in 1993.

And unlike other expenses such as housing and household goods, which cost more in dollars in 2004 but less in terms of the percentage of the total weekly budget, health care is putting more strain on Bermuda?s households.

In 1993, the Island spent 7.56 percent of its weekly budget on healthcare, however, this rose to 8.66 percent in 2004.

Black-led homes spent $121.47 on medical, health and personal care per week in 2004, it said, compared to white and other homes which spent $147 per week.

It said insurance payments contributed to the lions share of the overall cost with $3,983 (58 percent) being spent on health insurance.

However, those who were self-employed paid twice as much as other employees.

?If a household member is an employee, then usually half of their insurance payment is covered by their employer,? it said. ?Self-employed persons on the other hand, usually pay the total cost of health insurance.?

Homes spent an average of $2,936 on medical supplies and services in 2004, it said.

Health care costs also included medical care services such as lab tests, hospital visits and therapy.

?Additionally, the cost of medical supplies such as hearing aids, artificial limbs, eye wear and contact lenses, and both prescribed and over-the-counter drugs and medicines are inclusive of health care expenditures,? it said.