Colorado's full of healthy hikers and mountain bikers, right? Well, it also has some of the highest out-of-pocket health care spending in the country. That's according to a report being released today by the JPMorgan Chase Institute, a new initiative that's using banking data to study spending trends and the financial pressures in people's lives.
Report details: The report looks at health care spending trends in 23 states where Chase has retail branches, and it found a lot of variation, even after controlling for age and income differences:
- Highest average out-of-pocket spending: Colorado ($916), Utah ($906)
- Lowest average: California ($596), Michigan ($601)
- Highest average spending compared to income: Oklahoma (1.7%), Louisiana (1.7%)
- Lowest average: New Jersey (1%), New York (1%)
Why it's happening: The report says it's likely due to differences in health care prices, insurance coverage, and how much people are using medical care — but demographics didn't matter.
Go deeper: Check out the report here, and more data visuals here.