New Society of Actuaries Study Estimates $300 Billion Economic Cost Due to Overweight and Obesity
January 10, 2011According to a new study released today by the Society of Actuaries (SOA), the total economic cost of overweight (BMI between 25.0 - 29.9) and obesity (BMI of more than 30) in the U.S. and Canada reaches $300(1) billion per year, with 90 percent of the total - $270 billion - attributed to the U.S. While much research has been conducted on obesity, the SOA study looked at the economic costs of overweight and obesity 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 world-wide epidemics, and are having negative impacts on health and mortality," said actuary Don Behan, FSA, FCA, MAAA and independent consulting actuary. Full release
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