The yearly cost of smoking in the United States exceeds $600 billion, including medical bills, missed wages, and cigarette out-of-pocket expenses. However, a recent analysis from WalletHub, The Real Cost of Smoking by State, indicates that the financial burden is lowest for smokers in South Carolina.
There are significant disparities in the financial costs of smoking across the nation, according to the analysis, which looks at the lifetime and yearly expenditures of smoking and secondhand smoke exposure. New York is the most costly state for smokers, while South Carolina is the least expensive.
Important Results
South Carolina smokers have the lowest out-of-pocket expenses in the US, with an average lifetime cost of $169,171.
Health Care expenditures: Compared to places like Connecticut, where expenditures are 2.7 times higher, South Carolina has substantially reduced smoking-related healthcare costs.
Income Losses: Compared to states like the District of Columbia, where losses are greatest, smokers in South Carolina experience lower lifetime income losses.
Lifetime Smoking Costs: South Carolina has the lowest lifetime smoking costs in the nation, at an average of $3.9 million. This covers income losses, medical bills, and direct out-of-pocket expenditures. Smokers in New York, however, must pay 1.9 times as much.
Notable Patterns
With a notable decline in ranking from 44th to 51st this year, South Carolina cemented its status as the most cost-effective state for smokers.
States with the Most and Least Expensive Smoking
Highest Costs: The most costly states for smokers are Maryland, New York, and the District of Columbia.
Lowest Costs: The least expensive states are Missouri, Alabama, and South Carolina.
The More Comprehensive View
Even if smoking is affordable in South Carolina, smoking still has substantial wider costs. Smokers nationwide incur an average lifetime cost of almost $3.9 million, which includes $646,316 in lost income and $194,349 in medical bills.
In addition to highlighting the financial costs of smoking, this report issues a call to action for the 46 million tobacco users in the United States to stop. Smoking negatively impacts one’s personal finances in addition to one’s health.
Visit WalletHub’s The Real Cost of Smoking by State atwallethub.com to view the complete report and your state’s ranking.