Premier B2B Marketplace DesignRush released a new report showing the top 10 states where workers experience the lowest financial strain from healthcare expenses.
New York, New York--(Newsfile Corp. - November 7, 2024) - In some U.S. states the financial impact of healthcare costs on workers is relatively lower compared to other states. DesignRush's report aims to highlight states where workers would benefit lower healthcare costs from, giving them a clearer picture of the locations providing greater financial relief and opportunities for improved well-being.
The top 10 states with the lowest worker healthier costs in 2024 are:
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Maryland Tops the List with the Lowest Healthcare Burden
With an average annual salary of $69,750 and healthcare costs averaging $4,608 per year, workers in Maryland spend only 6.61% of their income on healthcare. This leaves employees with more disposable income for savings, investments, and overall well-being, offering some financial relief compared to higher-burden states.
New Hampshire and Virginia Follow Closely Behind
Workers in New Hampshire and Virginia also experience relatively low healthcare burdens, spending 7.16% and 7.48% of their salaries on healthcare, respectively. In New Hampshire, with an average annual wage of $62,550, workers spend $4,476 per year on healthcare, while in Virginia, employees earning $65,590 annually allocate $4,908 to healthcare costs.
Other States Offering Healthcare Relief
Several other states round out the top 10 list for the lowest healthcare costs. In Minnesota, Washington, and Rhode Island, healthcare expenses range from 7.98% to 8.46% of annual salaries. Even in higher-salary states like Washington, where the average income is $72,350, healthcare remains relatively affordable at 8.34% of earnings.
New Jersey, Colorado, Hawaii, and Indiana Complete the List
While these states have higher average healthcare costs, they still require a smaller percentage of salary devoted to healthcare. In New Jersey, Colorado, Hawaii, and Indiana, workers spend between 9.31% and 9.78% of their income on healthcare, which is notably lower compared to national trends.
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The Financial Relief on Employee Well-Being
This analysis highlights that while healthcare costs are rising nationwide, there are states where workers face less financial strain. This lighter burden on finances can positively affect workplace stress, disposable income, and overall employee well-being.
Gianluca Ferruggia, General Manager at DesignRush, commented on the findings:
"As healthcare costs soar across the country, it's important to recognize the states that are providing workers some financial relief. These findings offer a glimpse into how employees in certain regions can manage healthcare expenses without facing the extreme financial pressures seen elsewhere."
Methodology
The monthly healthcare costs were annualized, and then we calculated what percentage of each state's annual salary was paid toward healthcare every year. States were ranked from lowest to highest based on this percentage, and the top 10 states with the lowest healthcare cost burden were featured in the analysis.
- Annual wages: Forbes
- Healthcare costs: ValuePenguin
About DesignRush:
DesignRush.com is a B2B marketplace and media platform connecting businesses with agencies through expert reviews and agency ranking lists, awards, knowledge resources, and personalized agency recommendations for vetted projects.
Our data-driven reports provide insights into key market trends and help companies make informed decisions that impact both their bottom line and employee well-being.
Media Contact:
Anonta Khan, Digital PR Manager
anonta@designrush.com
+1 305-370-1017
https://www.designrush.com/
SOURCE: DesignRush
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229175
