In the United States, mental health inequities are projected to cost the country over $477 billion this year, with this number rising to almost $1.3 trillion annually by 2040. People of color, women, and low-income individuals face the most significant disparities in mental health care access, which can impact their physical health as well. Dr. Jay Bhatt from the Deloitte Center for Health Solutions and Health Equity Institute noted that those with mental health conditions often struggle to manage chronic illnesses, leading to increased healthcare costs if left untreated.
Excessive medical care is only one aspect of the economic toll of mental health inequities, according to Darrell Gaskin from the Johns Hopkins Bloomberg School of Public Health. Lost productivity in the labor market due to illness and premature death are additional factors contributing to the $477 billion cost. Thomas LaVeist from the Tulane School of Public Health and Tropical Medicine highlighted that where individuals live plays a significant role in determining their health outcomes. Investing in essential resources like housing, education, food, and healthcare can make a substantial difference in addressing these inequities.
While there may be concerns about the financial costs of addressing health inequities, LaVeist emphasized that the costs of doing nothing are also significant. Simply put, inaction comes with its own set of financial consequences.