With the economic and societal costs of smoking totaling more than $300 billion per year, the personal-finance website WalletHub on Wednesday released its report on The Real Cost of Smoking by State.
In the study, WalletHub calculated the potential monetary losses — including the lifetime and annual costs of a cigarette pack per day, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke. How did New York stack up in the rankings?
On a scale of 1 to 50 — with 1 being the lowest and 50 the highest — here’s how the Empire State fared in the study:
• Out-of-Pocket Cost per Smoker– $193,771 (50th);
• Financial-Opportunity Cost per Smoker – $2,027,159 (50th);
• Health-Care Cost per Smoker – $264,351 (48th);
• Income Loss per Smoker – $591,719 (37th);
• Other Costs per Smoker – $15,104 (40th).
• Total Cost Over Lifetime per Smoker: $3,092,103; and Total Cost per Year per Smoker: $64,419.
The least costly state for smokers was Georgia, with a total cost over a lifetime of $1,752,212. The state ranked first or second in most
Since 1964, smoking-related illnesses have claimed more than 20 million lives in the U.S., 2.5 million of which belonged to nonsmokers who developed diseases merely from secondhand-smoke exposure, according to the American Lung Association and the WalletHub report.