A sport that is making many older Americans more active could be backfiring for health insurance companies, according to UBS.
Pickleball is a tennis-adjacent sport that has exploded in popularity since the Covid-19 pandemic, attracting millions of new players and celebrity investors .
"After analyzing the growth in pickleball as well as the nature and frequency of related injuries, we conducted a bottom-up analysis of medical costs.
In total, we estimate $250-500 mn of medical costs directly attributable to pickleball and see potential for greater medical costs indirectly linked to pickleball," the note said.
All said, we estimate that pickleball medical costs could be driving 5-10% of the unexpected medical cost trend this year," the note said.
Persons:
Andrew Mok, Goldman Sachs, Mok, UNH, — CNBC's Michael Bloom
Organizations:
UBS, Pickleball, Insurance, Medicare
Locations:
pickleball, UnitedHealth, Friday's