5 states with the highest out-of-pocket healthcare spending

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Colorado has the highest annual out-of-pocket healthcare spending per family, according to a recent report by the JPMorgan Chase Institute.

The report examines healthcare spending trends between 2013 and 2016 in the 23 states where Chase has retail branches. The analysis is based on a sample of 2.3 million Chase customers aged 18 to 64. 

The report revealed wide variation in out-of-pocket spending across the 23 states examined. Here are the five states with the highest average annual out-of-pocket spending per family in 2016 based on the analysis.

1. Colorado — $916
2. Utah — $906
3. Connecticut — $880
4. Texas — $873
5. Oklahoma — $854

Those five states had significantly higher spending than the two states with the lowest average annual out-of-pocket spending: California ($596) and Michigan ($601).

Access the full JP Morgan Chase Institute report here.

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