(MENAFN- News Direct) > It's said that women are often hit with a pink tax - higher costs for goods and services marketed toward them. But when it comes to health care, women tend to pay more, too.

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There are a few reasons for this - such as women's longer life expectancy; the CDC says that while males have an average life expectancy of 75.8 as of 2023, for women, that number is 81.1 [1]. And if women live more than five years longer on average, it stands to reason that their total health care spending is higher.

But that's not the only reason women commonly end up with higher medical expenses than men. A big part of it has to do with medical research being skewed toward men.

Philanthropist Melinda French Gates is trying to change that, though. As Good Morning America recently reported, Gates had embarked on a new partnership to boost medical research for women [2].

Gates is investing $100 million to focus on medical issues that have long-impacted women specifically - such as menopause, chronic illness and cardiovascular disease. The research could lead to not just better diagnoses and care for women, but lower health care costs as well.

Women's health care research is sorely lacking

A recent report by Deloitte found that working women in the U.S. spend around $15 billion more each year on health care costs than men do. It also found that women had higher out-of-pocket costs regardless of age (though the gap did narrow a bit for women aged 59 to 64 compared to same-aged male counterparts [3]. This is consistent with findings from the American Medical Women's Association (AMWA), which, in a 2022 analysis, found that women ages 19 to 64 spend 18% more, on average, than men on health care, even when maternity-related costs are not included [4].

A core issue is that medical research tends to be heavily male-skewing - focusing on the needs of men over women and relying heavily on males for clinical trials, neglecting the unique medical and physiological needs of women. The Association of American Medical Colleges says that prior to 1993, women were rarely included in clinical trials [5]. For this reason, many medications are more formulated to men than women, even though women may take these same medications.

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A 2021 WHAM report, for example, found that only 12% of Alzheimer's research is focused on women [6]. And the AMWA also says women are 1.5 to 2 times more likely to experience an adverse reaction to medication than men [4].

This means that if medical treatments aren't tailored to women, they may not work as well for women. That could lead women to have to spend more money chasing better treatment options, adding to their costs.

And it's not just treatments. Women often fail to get an accurate diagnosis from the start.

St. Luke's reports that among women, heart attacks are often dismissed as stress or indigestion [7]. The findings also suggest that certain neurological disorders like migraines and MS are often written off as anxiety. In addition, autoimmune diseases are more likely to impact women than men. Yet, it often takes years to get an accurate diagnosis.

Meanwhile, 66% of women think that menopause symptoms are not taken seriously enough, according to research from Astellas [8]. But those symptoms can often be debilitating, running the gamut from anxiety to headaches to sleep disruption.

More time spent finding more suitable care could translate to lost wages for women too. In 2024, women earned 85% of what their similarly-qualified male counterparts earned on average, according to Pew Research [9]. Better research could help women improve their care, leading to savings in terms of more effective treatments and less time spent out of work dealing with medical issues.

How women can manage health care costs

As a woman, you may face higher health care expenses due to factors that include less targeted treatment, misdiagnoses of conditions and a longer lifespan. It's important to save for health care appropriately so you're able to cover those costs at all stages of life.

First, though, one of the most important steps you can take to keep your health care costs manageable is to make sure you understand your health coverage. Familiarize yourself with your plan's rules and if you have questions, speak to your provider.

Next, make sure to compare your health care choices at all stages of life and as your needs change. While you're working, that could mean having to choose between a low- and high-deductible plan. When you're older, that could mean having to choose a Medicare plan each year. Always do your research to line up the best coverage based on your unique needs.

Furthermore, it's a good idea to have dedicated savings for health care expenses. A health savings account (HSA) is a good option if your health insurance plan meets the requirements for one (typically, by having a higher deductible).

HSAs let you contribute pre-tax dollars toward health care and your balance never expires. Funds you don't need immediately can be invested tax-free and withdrawals for qualified medical expenses are tax-exempt as well.

If your health insurance plan is not compatible with an HSA , you can sign up for a flexible spending account (FSA) instead. However, with an FSA, you typically have to use up your plan balance each year and you can't invest the money you don't need right away. If you're trying to plan for long-term health care needs, such as during retirement, an HSA is a more optimal solution.

Finally, look into long-term care insurance at some point in your 50s. Medicare won't cover long-term care expenses like home health aides or nursing homes. And if you outlive your partner or spouse, you may need to pay for that care on your own. Having a long-term care policy could help you avoid a situation where you're depleting your retirement nest egg later in life due to bigger health care expenses .

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[1]. CDC .“Mortality in the United States, 2023”

[2]. Good Morning America .“Melinda Gates announces $100M investment in women's health research”

[3]. Deloitte .“Hiding in plain sight: The health care gender toll”

[4]. American Medical Women's Association .“The pink tax: the burden of additional costs on women's healthcare”

[5]. AAMC .“Why we know so little about women's health”

[6]. The Wham Report .“Societal impact of research funding for women's health”

[7]. St. Luke's .“The 5 most misdiagnosed health conditions in women”

[8]. Astellas .“New research reveals impact of menopause stigma”

[9]. Pew Research .“Gender pay gap in U.S. has narrowed slightly over 2 decades”

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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