Smoking is an expensive habit, not to mention a potentially deadly one, and Connecticut is one of the most expensive states in which to light up, according to a new study.
A smoker’s direct and indirect costs over a lifetime exceed $2.1 million in Connecticut, according to a WalletHub analysis.
The study calculated the potential monetary losses — including the cumulative cost of a cigarette pack per day over several decades, healthcare expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke.
Only Hawaii, Alaska, Massachusetts and New York cost more for smokers over a lifetime, according to the financial website for consumers and small business owners.
New York was the most expensive state to smoke, at almost $2.5 million. The cheapest was Louisiana, at about $1.2 million.
The cost per year to smoke in Connecticut: $41,924.
WalletHub calculated its lifetime costs in Connecticut by adding: out-of-pocket cost per smoker, $152,848; financial opportunity cost per smoker, $1,445,342; healthcare cost per smoker, $241,423; income loss per smoker, $285,188; and other costs per smoker, $13,338.
Since 1964, smoking-related illnesses have claimed 20 million lives in the U.S., 2.5 million of which were nonsmokers who developed diseases from secondhand-smoke, WalletHub said.
“However, the economic and societal costs of smoking-related issues are just as staggering,” it said. “Every year, Americans collectively spend a total of $326 billion, including nearly $170 billion in direct healthcare costs and more than $156 billion in lost productivity due to premature death and exposure to secondhand smoke. Unfortunately, some people will have to pay more depending on the state in which they live.”
