How much bang are you getting for your healthcare buck? The answer may depend on where you live, a new study finds.
For the new analysis of “2014's States with the Best & Worst Health ROI,” WalletHub used data available from 47 states to determine which states offer the highest (and lowest) quality of care for the money —based on death rates, their rank on the widely reported America’s Health Rankings report card on the nation’s overall health, and average individual insurance premiums. (Maine, Rhode Island, and Vermont were not included in the study because of limited data.)
WalletHub’s findings showed Minnesota has the lowest healthcare costs, with an average insurance premium of $2,292, while Alaska has the highest ($5,424). Residents in blue states tend to have a better rating than those in red states.
The states where you’ll get the most bang for your buck when it comes to your health: Minnesota, Utah, Kansas, Hawaii, Iowa, Illinois, Nebraska, Arizona, Maryland, and Idaho.
States with the lowest ratings: Mississippi, Alabama, Ohio, Kentucky, South Carolina, Indiana, West Virginia, Arkansas, Louisiana, and Mississippi.
Since 2003, WalletHub noted the average annual health insurance premium for a single person increased by 74 percent and family coverage increased by 80 percent. The nation that spends more than two times as much as other industrialized countries— totaling almost $3 trillion a year— on health care costs, but Americans have shorter life spans, higher infant death rates and more cases of chronic illness than other wealthy countries, according to the group.
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