A new report reveals a troubling reality: Americans are spending more of their income on basic health care, even in states with relatively low medical prices.
According to WalletHub’s latest analysis, residents in Mississippi spend the highest percentage of their income on health care—nearly 19%. On the opposite end, Maryland residents pay just 9%, despite similar service needs.
New York ranks high in dental and drug costs
WalletHub ranked New York as the 15th most expensive state overall for health care, with residents paying an average of $844.32 per month. That equals nearly 12% of the median monthly household income.
New York breakdown:
- 3rd highest average cost for a dentist visit
- 8th highest cost for ibuprofen
- 15th in average doctor visit price
- 36th for Lipitor, a cholesterol medication
Why health care costs keep climbing
Experts say several factors are contributing to the increase:
- Inflation: Rising prices across all industries are pushing medical costs higher.
- Chronic illnesses: Lifestyle-related conditions are requiring more ongoing care.
- Insurance gaps: Many patients still face high deductibles and uncovered services.
- Marketing influence: Direct-to-consumer drug ads encourage costlier, newer treatments.
Tips to reduce your health care expenses
Experts recommend several strategies for cutting back on medical costs:
- Get insured: Insurance shields you from catastrophic expenses.
- Use preventive care: Annual physicals and screenings can stop problems before they start.
- Choose the right plan: Tailor your policy to match how often you need care.
- Practice healthy habits: Good nutrition, exercise, and rest reduce your health risks.
- Budget ahead: Set aside funds for routine and surprise medical needs.
- Use telehealth: Virtual visits can cost less and save time.
What it means for American households
Rising costs don’t just affect those without coverage. Even insured Americans must budget more carefully as deductibles, co-pays, and prescription prices rise.
“Budgeting with real-time implementation is crucial,” said Louisiana State University Professor Michael Malinowski. “But it’s hard to do in a system lacking objective cost transparency.”
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