It may not seem like it, but Virginians are holding on to their money when it comes to healthcare.
A new study reveals the state’s residents are at the lower end of the spectrum when it comes to overall healthcare spending. “TheSeniorList” ranks Virginia as number 20. The same report says healthcare spending in the United States has increased by 17% since 2013.
Overall, Virginia residents spend an average of $5,455 per year on healthcare. This is a few hundred dollars below the national average of $5,640.78.
Additional findings from the study include:
- Americans spend $3.5 trillion annually on healthcare which accounts for 18% of GDP
- Spending on prescription drugs nationally has increased 29% since 2013
The study is based on the most recent data from the Healthcare Cost Institute. To see the full report, click here.