Health care costs up to 300% higher for privately insured patients than those with Medicare, report reveals

Most Americans — more than 65% — have private health insurance, but a new report has revealed a potentially very expensive drawback.

Patients who have private (commercial) coverage may end up paying significantly more for their medical care compared to those who have public health insurance, such as Medicare, according to recent data from RAND Corp. in Washington, D.C.

As of 2022, employers and private insurance companies paid an average of 254% more for medical services than what Medicare programs would have paid.