With smokers having an elevated risk of severe symptoms from COVID-19 and the economic and societal costs of smoking totaling more than $300 billion per year, the personal-finance website WalletHub today released its report on The Real Cost of Smoking by State, as well as accompanying videos.
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 Texas (1=Lowest, 25=Avg.):
- Out-of-Pocket Cost per Smoker – $111,602 (Rank: 22nd)
- Financial-Opportunity Cost per Smoker – $1,244,225 (Rank: 22nd)
- Health-Care Cost per Smoker – $133,882 (Rank: 13th)
- Income Loss per Smoker – $553,254 (Rank: 29th)
- Other Costs per Smoker – $16,663 (Rank: 49th)
- Total Cost Over Lifetime per Smoker: $2,059,626
- Total Cost per Year per Smoker: $42,909
