The Cost of Injuries in Sport

Background 

Youth sports offer undeniable benefits from promoting physical health to fostering teamwork and even long-term wellness. However, with these benefits come the risks of injuries, which can yield significant financial and emotional costs. While medical expenses related to sports injuries are a major concern among families of youth athletes, consumer insurance plays a crucial role in mitigating these costs and the financial burden associated with them. 

Research tells us that annually in the United States, families spend an average of $883 for one child's primary sport. From registration fees, to equipment, travel, tournaments and even skill camps, this number equates to about $40 billion annually among US families. However, it’s important to note that these numbers don’t factor in the additional expenses of a potential injury. Insurance coverage for youth athletes is essential for safeguarding the athlete and their families from financial setbacks and liabilities that could result from unforeseen events. 

Problem 

According to the U.S. Consumer Product Safety Commission's National Electronic Injury Surveillance System (NEISS), each year, an estimated 12 million youth athletes between the ages of 5 and 22 years suffer a sport related injury. Of course, certain higher impact sports, such as football, soccer, and basketball have inherently higher injury rates and thus impart a greater financial burden on athletes and their families. The most common injuries among these high impact sports include leg and finger fractures with an estimated $4,700 average charge to families for a leg fracture and an estimated $2,900 average charge for an arm fracture. Unfortunately, the prevalence of these injuries leads to approximately $33 billion in health care costs. These costs are made up of both direct and indirect costs. Direct costs include expenses such as: 

• Medical Expenses: Short-term costs include emergency room visits, diagnostic tests (i.e., X-rays and MRIs), and initial treatments. While long-term costs include physical therapy, follow-up care, and potential surgery. 

• Rehabilitation Costs: Recurring expenses for physical therapy and medical devices needed for recovery. 

• Medication Costs: Prescription drugs or over the counter medications for pain management and recovery. 

Indirect costs associated with injuries include: 

• Lost Time: Athletes may miss practices and games impacting their skill development and team’s performance. In addition, athletes may face lost time in school significantly impacting their academic performance. In the previously mentioned study by NEISS, of the 20 million youth athletes who suffer injuries each year, approximately 20 million school days are lost. 

• Emotional and Psychological Impact: Injuries can lead to stress, anxiety, and even depression among athletes and their families. With that, athletes may seek out professional psychological care which incurs greater costs. 

• Family Burden: Parents and guardians may also face financial stress resulting from lost work time to attend appointments or manage care for their child. 

Given the clear economic impact of sports injuries, there has been focus on injury prevention over the last decade. However, the cost of injuries is so immense that athletes and families should understand the use and benefits of consumer insurance to protect themselves and their investment is sport 

Solution 

There are multiple components of understanding consumer insurance that will support athletes and families in selecting proper coverage. First, review available policies to understand the specifics of the coverage limits as well as the health, accident, and sports insurance components. Families can also consult with insurance experts who can provide guidance on the best policies for unique needs. 

 Additionally, InjureFree offers a Consumer Insurance solution called COVRSPORT designed to safeguard both athletes and families investments in sports when a hardship or an injury occurs. InjureFree offers support from season interruption to excess medical and travel insurance. Families can choose the product that suits their needs and take comfort in knowing that their child, effort, and resources are protected.  

 The costs associated with youth sports injuries can be substantial, affecting not only the financial well-being of families but also their emotional and psychological health. Consumer insurance plays a crucial role in managing these costs and providing financial protection. By understanding the various insurance options, families can better navigate the challenges associated with youth sports injuries and ensure that their children can continue to reap the benefits of sports participation. 

References: 

1. Common sports injuries: Incidence and average charges. ASPE. (2014, March 16). https://aspe.hhs.gov/reports/common-sports-injuries-incidence-average-charges-0  

2. Injurefree.com 

3. Keenan, M. (2024, August 6). The average cost of youth sports: A full breakdown for 2024. Jersey Watch. https://www.jerseywatch.com/blog/costs-of-youth-sports  

Turnball, M. et.al., (2024, March 8). Estimating the cost of sports injuries: A scoping review. Journal of Science and Medicine in Sport. https://www.sciencedirect.com/science/article/pii/S1440244024000781