With the economic and societal costs of smoking totaling more than $600 billion per year, the personal-finance website WalletHub today released its report on The Real Cost of Smoking by State, with costs for the average Maryland smoker over $3,628,050 over a lifetime (Maryland statistics available below).
To encourage the estimated 34.2 million tobacco users in the U.S. to kick this dangerous habit, 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.
The Financial Cost of Smoking in Maryland (1=Lowest, 25=Avg.):
- Out-of-Pocket Cost per Smoker – $179,755 (Rank: 43rd)
- Financial-Opportunity Cost per Smoker – $2,405,868 (Rank: 43rd)
- Health-Care Cost per Smoker – $274,209 (Rank: 47th)
- Income Loss per Smoker – $752,224 (Rank: 50th)
- Other Costs per Smoker – $15,994 (Rank: 41st)
- Total Cost Over Lifetime per Smoker: $3,628,050
- Total Cost per Year per Smoker: $75,584
For the full report, please visit:
https://wallethub.com/edu/the-financial-cost-of-smoking-by-state/9520
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