Americans Pay More Than Ever For Health Care, No Matter Where They Live

Americans are spending a higher percentage of their monthly income on out-of-pocket health care costs, according to a new report by WalletHub. Not surprisingly, people in the nation’s poorest states spend the most.

Mississippi residents spend nearly 19% of their monthly income on medical costs — the highest percentage in the country. Idaho ranked 28th most expensive, Washington 30th, Oregon 36th, and Utah 41st with residents paying between 11% and 13% of their monthly household income on health care expenses. Meanwhile, Marylanders pay just 9%, the lowest amount, despite having similar health care needs.

Experts say several factors are driving up costs, including inflation, rising chronic illnesses, gaps in insurance coverage and direct-to-consumer drug advertising that encourages pricier treatments.

Health care professionals recommend several strategies to help consumers reduce costs. Choosing the right health coverage plan, using preventive care, prioritizing healthy habits and taking advantage of telehealth are just a few.

“Sharp increases in health care costs in recent years have made it difficult for some people to seek essential care,” said Chip Lupo, a WalletHub analyst. “Even in states with lower-than-average health care prices, residents’ incomes may not be enough to keep up with the cost, especially since virtually every part of Americans’ budgets have been impacted by inflation.”

What percentage of your monthly household income do you spend on health care expenses? Let us know at Voices for Affordable Health.