The opioid epidemic cost the nation $696 billion in 2018, representing 3.4 percent of gross domestic product, according to a new estimate from the Council of Economic Advisors.
CEA also estimated the epidemic cost the U.S. $2.5 trillion between 2015 and 2018.
This figure contrasts a recent estimate from the Society of Actuaries, which found the epidemic cost $631 billion over the same time period. CEA's estimate is much larger, as it accounts for the economic consequences of lives lost to the opioid epidemic.
CEA also found nearly 30,000 overdose related deaths were prevented between January 2017 and March 2019, equating to $326 billion in savings.
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