By Hank Russell
A new study reveals that New York residents spend more than 10% of their income on healthcare, making the Empire State one of the top 20 most expensive places to get medical coverage.
According to WalletHub, New Yorkers spend an average of 11.00% of what they earn on their healthcare plan. That ranks New York 14th in the nation. Further, the average healthcare premium in the state is $788. West Virginia residents spend the most on healthcare, using 20.9% of their income, while Maryland residents spend the least (4.7%).
This study comes after reports of people either dropping or losing their health insurance covered by the Affordable Care Act (ACA). Citing data from the U.S. Health and Human Services Department, KFF reported that enrollment fell 13.1% from 22.1 million people last year to 19.2 million as of February 2026. According to news reports, the decline was attributed to enrollees losing subsidies, seeing their enhanced tax credits expire and paying higher premiums. According to the KFF, ACA Marketplace insurers are seeking a 14% rate increase next year after they got a 20% rise last year.
Citing data from the Fiscal Policy Institute, Live Insurance News reported that 450,000 people alone in New York State lost coverage. Of that number, 70,000 were from Long Island, with 38,000 from Suffolk County and 32,000 from Nassau County.
WalletHub analyst Chip Lupo attributed the increase in health insurance premiums to inflation. However, he noted, “Being without insurance is even more dangerous, though, as medical debt is one of the most common reasons people file for bankruptcy. People in certain states feel the pressure of high premiums more than others.”