Opioid Epidemic Cost US Economy $631 Billion Over 4 Years, Study Says

The opioid crisis in the United States has cost the economy at least $631 billion in just four years, according to a report released earlier this week by the Society of Actuaries, which analyzed nonmedical opioid use during this time-frame. Most of the costs were attributable to health care and premature mortality. Nearly one-third of the total estimated economic burden, about $205 billion, was ascribed to health care and the excess spending for those with opioid use disorder, infants born with neonatal abstinence syndrome or neonatal opioid withdrawal syndrome, and for relatives of those with diagnosed opioid use disorder. The neonatal syndrome is caused when a pregnant mother uses certain drugs such as opioids, which force her baby to go through withdrawal from the drugs after birth. Premature mortality costs accounted for the biggest chunk of the estimated economic burden, totaling $235 billion. This amount was mainly driven by the lost lifetime earnings of individuals who overdosed and died prematurely from opioids. While more than 2,000 state and local governments have sued the drug industry over the crisis, the report released on Oct. 15 finds that governments bear less than one-third of the financial costs. The rest of it is borne by individuals and the private sector.