Health is a key element of human capital and one of the important elements and priorities of any economy. Depending on the possibilities, a certain part of the resources is spent on the health and well-being of the population of each country. However, regardless of above mentioned, health spending is determined at the level of the econom in order to achieve certain benefits. Recently, health spending has been growing steadily due to a number of factors, which in turn leads to challenges that sometimes go beyond the capabilities of the economy. Health systems are thus, among other things, under the pressure of demographic aging, and especially due to increasing share of people aged 50 and over. It is considered that around this age we can observe intensive growth of healthcare needs, and thus healthcare costs too, which creates certain problems in terms of the financial sustainability of the health system. It is therefore important to analyze the financial aspects of health spending and understand the underlying drivers of health spending growth. One important area in health spending research also relates to the costs incurred in the last year of a person’s life. Therefore, the subject of this paper is the analysis of healthcare and out of pocket (OOP) healthcare spending characteristics in the last year of life of people aged 50+ in European countries, based on data from the SHARE study (Survey on Health, Aging and Retirement in Europe). The results of the analysis of SHARE data suggest that the biggest OOP spending on healthcare in the last year of life was among those in the age group 65-74 and that services of general medicine and specialists, hospital care and nursing home services were used the most. The gender difference is evident and women used more home help, and men were more likely to use almost all other services. OOP on healthcare and other services in the last year of life is higher in the older age due to the increasing occurrence of health problems as person ages. This indicates the need to monitor and analyze healthcare spending in the last year of life.