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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