Texans are the most likely people in the nation to avoid going to the doctor due to cost, the report found. Photo via Getty Images

A new Forbes Advisor study shedding light on Americans' top financial worries has revealed Texas has the fifth highest health care costs in the nation.

Forbes Advisor's annual report compared all 50 states and Washington, D.C. across nine different metrics to determine which states have the most and least expensive health care costs in 2024.

Factors include the average annual deductibles and premiums for employees using single and family coverage through employer-provided health insurances and the percentage of adults who chose not to see a health care provider due to costs within the last year, among others. Each state was ranked based on its score out of a total 100 possible points.

Texas was No. 5 with a score of 91.38 points. North Carolina was No. 1, followed in order by South Dakota, Nebraska, and Florida.

According to Forbes, out-of-state families considering a move to the Lone Star State should be aware of the state's troubling statistics when it comes to family health care. More specifically, nearly 15 percent of Texas children had families who struggled to pay for their medical bills in the past 12 months, the highest percentage in the nation.

Furthermore, Texans have the highest likelihood in the U.S. to skip seeing a doctor because of cost. The report showed 16 percent of Texas adults chose not to see a doctor in the past 12 months due to the cost of health care.

"Unexpected medical bills and the cost of health care services are the top two financial worries for Americans this year, according to a recent KFF health tracking poll," the report said. "These financial fears have real-world consequences. The high cost of healthcare is leading some Americans to make tough choices—often at the expense of their health."

In the category for the percentage of adults who reported 14 or more "mentally unhealthy" days out of a month, who could not seek health care services due to cost, Texas ranked No. 3 in the U.S. with 31.5 percent of adults experiencing these issues.

The report also highlighted the crystal clear inequality in the distribution of health care costs across the U.S.

"In some states, residents face much steeper health care expenses, including higher premiums and deductibles, which make them more likely to delay medical care due to costs," the report said.

For example, Texas' average annual premiums for both plus-one health insurance coverage ($4,626, according to the study) and family coverage ($7,051.33) through employer-provided policies was the No. 4-highest in the nation.

Elsewhere in the U.S.

The state with the most expensive health care costs is North Carolina, with a score of 100 points. 27 percent of adults in North Carolina reported struggling with their mental health who could not seek a doctor due to cost, and 11.3 percent of all adults in the state chose not to see a doctor within the last 12 months because of costs.

Hawaii (No. 50) is the state with the least expensive health care costs, according to Forbes. Hawaii had the lowest percentages of adults struggling with mental health (11.6 percent) and adults who chose not to see a doctor within the last year (5.7 percent). The average annual premium for employees in Hawaii using a family coverage plan through employer-provided health insurance is $5,373.67, and the average annual deductible for the same family coverage plan is $3,115.

The top 10 states with the most expensive health care are:

  • No. 1 – North Carolina
  • No. 2 – South Dakota
  • No. 3 – Nebraska
  • No. 4 – Florida
  • No. 5 – Texas
  • No. 6 – South Carolina
  • No. 7 – Arizona
  • No. 8 – Georgia
  • No. 9 – New Hampshire
  • No. 10 – Louisiana

The full report and its methodology can be found on forbes.com.

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This article originally ran on CultureMap.

Nurses deserve all the love. Photo by Patty Brito on Unsplash

Texas earns healthy rating as 2nd best state for nurses, Forbes says

health care heroes

With a global pandemic in the rearview and an aging workforce reaching retirement in larger proportions, strong healthcare is becoming increasingly crucial in the United States.

Nurses are in great demand throughout the nation and can make significant impacts in a state like Texas, which was just named the No. 2 best state for nurses in a study by Forbes Advisor.

Texas currently employs more than 231,000 nurses, the second-highest number in the country behind California's 325,620 nurses. Florida rounds out the top three with more than 197,000 nurses employed.

There are several factors to keep in mind when considering a career as a nurse, but one has been in a lot of recent discourse: the salary. The Bureau of Labor Statistics (BLS) says nurses in the U.S. earn a median salary of $81,220 per year. While healthcare company Trusted Health places a Texas nurse's annual salary at $74,540 - lower than places like Florida and California, adjusted cost of living can make Texas more attractive.

"Salary is a significant factor in any professional’s career decisions, but it’s not the only one to weigh when deciding where to work," the report's author wrote. "You should also consider job availability, economic demand, and licensing processes before settling on a place to grow your career."

Regarding job availability, Projections Central estimates there will be a demand for more than 16,000 nursing positions in Texas between 2020 and 2030 - the second-best job outlook in the U.S.

Texas is also part of the Nurse Licensure Compact (NLC), which can help nurses transfer their licenses from other states.

"NLC members grant RNs multi-state licenses, which allow them to practice in any NLC-participating state without jumping through the hoops of meeting a new state’s specific licensing guidelines," the report says. "NLC nurses can offer their skills to another compact state in the event of a crisis and provide telehealth services across compact states."

The full report can be found on forbes.com.

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This article originally ran on CultureMap.

Houston's not so hot for remote workers, as it turns out. thumbor.forbes.com

Houston caught slacking in Forbes study on best cities for remote workers

WFH woes

With many companies encouraging — or commanding — that remote workers return to the office in 2023, more and more Americans are seeking employment opportunities that will give them the freedom to work from elsewhere.

Houston is (remotely) clocking in as the No. 49 best city for remote workers in 2023, according to a study by Forbes Advisor. The study examined 100 U.S. cities and metro areas, and ranked them based on the earning potential of remote workers, internet access, lifestyle amenities, worker friendliness, living costs, and more.

The Bayou City did get some points for providing a quality lifestyle, the report found. Of the cities with the best access to arts, entertainment, and dining establishments, Houston came in No. 8 — outpaced slightly by No. 4 Dallas-Fort Worth.

"Remote work saves workers time and money on commuting and office clothing, while keeping their morale and productivity levels high," the report said. "Ideally, you’d live in a place with an affordable cost of living, high earning potential, reliable internet connection, low taxes, a low unemployment rate, and various entertainment options."

Out of All of Texas, only one region makes the top 10. San Antonio-New Braunfels, Texas, snagged the No. 6 spot. Here's yhe top 10 U.S. metro areas for remote workers are:

  • No. 1 – Miami-Fort Lauderdale-West Palm Beach, Florida
  • No. 2 – Indianapolis-Carmel-Anderson, Indiana
  • No. 3 – Omaha-Council Bluffs, Nebraska-Iowa
  • No. 4 – Tulsa, Oklahoma
  • No. 5 – Detroit-Warren-Dearborn, Michigan
  • No. 6 – San Antonio-New Braunfels, Texas
  • No. 7 – Jacksonville, Florida
  • No. 8 – Tampa-St. Petersburg-Clearwater, Florida
  • No. 9 – Tuscon, Arizona
  • No. 10 – Cleveland-Elyria, Ohio

Houston ranks in dead last when compared to the other Texas cities in the top 50. Behind San Antonio is Dallas-Fort Worth-Arlington, ranked No. 15 nationally. Austin-Round Rock ranks as the third overall best metro area in Texas for remote workers at No. 39.

Austin did great in one category — internet access — but it seems that earning potential and lifestyle amenities just couldn't keep up. for Austinites, it's all in the Wi-Fi: a remote worker's most important tool.

Austin's average internet download speed is 425.90 Megabits per second (Mbps), and when coupled with the wide variety of free Wi-Fi hotspots around the city, Austin earned No. 3 in the category for "cities with the best internet access." And we do like to take advantage of that at restaurants and bars around town.

Rounding out the ranking was El Paso at No. 46, sneaking ahead of Houston, and McAllen-Edinburg-Mission gets an honorable mention at No. 85.

The full study can be found on forbes.com.

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This article originally ran on CultureMap.

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Houston startup lands $10M to power up electrician staffing platform

money moves

Houston-based Buildforce, which provides a tech-enabled staff platform geared toward electricians and electrical contractors, has raised a $10 million Series A round led by Houston’s Saepio Capital.

Other investors in the round include Blue Heron Capital, Revolution’s Rise of the Rest Seed Fund, S3 Ventures and Chicago Ventures.

Buildforce says the funding will help fuel its national expansion and further development of its technology.

The startup, founded in 2019, connects electricians with electrical contractors for commercial and industrial construction projects. Buildforce’s mobile app helps electricians find and carry out work, and a web app helps electrical contractors find and manage electricians.

“This financing is a major milestone in furthering our mission to help people dedicated to a career in the construction trades lead more secure and fulfilling lives,” co-founder and CEO Moody Heard said in a news release.

Buildforce focuses solely on the electrical trade within the construction sector.

Nick Graziano, principal at Blue Heron, says the shortage of electricians is intensifying as demand for electricians accelerates, driven by data center construction, infrastructure development and energy transition initiatives.

The U.S. Bureau of Labor Statistics estimates the U.S. will need to hire about 80,000 new electricians per year through 2032 to catch up with demand. According to the National Electrical Contractors Association, the U.S. is grappling with a current shortage of 50,000 electricians.

A 2026 economic report from asset manager BlackRock says the electrical trade is expected to be the single fastest-growing employment category in the U.S. labor market over the next 10 years.

“Buildforce is capitalizing on a clear opportunity in America’s generational infrastructure buildout. We believe their mission to use technology to improve lives in the construction space will allow them to make a positive long-term impact on a large and important labor market,” added Jaan Bains, managing partner at Saepio Capital.

Venus Aerospace adds government, C-suite leaders following $91M raise​

new leaders

Fresh off its $91 million Series B, Houston-based Venus Aerospace has made several key additions and promotions to its leadership team.

The company says its expanded team will help it deploy its high-thrust rotating detonation rocket engine (RDRE), which completed its first U.S. flight test last summer.

"We flew the world's first high-thrust RDRE in just over four years on $80 million. We believe that makes it the fastest, most capital-efficient rocket engine program in history," Sassie Duggleby, co-founder and CEO of Venus Aerospace, said in a news release. "Adding this talent to our leadership team is how we bring that same discipline to the company itself, as we scale to meet the technical needs of defense and space customers who need range and speed legacy systems can't deliver."

The key hires include:

Lane Bodian, Vice President of Public Policy

Bodian previously served as the Principal Deputy Assistant Secretary of Defense for Legislative Affairs at the Pentagon.

Dan Rebnord, Director of Federal Government Relations

Rebnord most recently served as Senior Policy Advisor to a member of the Senate Armed Services Committee and previously worked in the Office of Legislative Affairs at the Department of Defense and as Staff Director for a national security subcommittee in the House of Representatives. Rebnord and Bodian will lead Venus' work with government stakeholders.

Tom Barron, Chief Operating Officer

Barron was promoted from his role as vice president of operations for Venus Aerospace. Before his time at Venus, he served as Special Assistant to the Secretary of Defense and consulted aerospace clients at McKinsey & Company. He also served as a U.S. Army Infantry and Special Forces officer.

Nick Cardwell, Chief Product Officer

Cardwell was promoted from his role as vice president of research and development. He previously held product and technology leadership roles at VC-backed tech companies in the San Francisco Bay Area and Austin.

Venus also named Cameron Taylor as its new vice president of operations, Sarah Boland Heine as its head of communications, Matt Stohr as its head of business development, and Sheila Menz as general counsel.

The company also announced a joint technology development agreement to advance the RDRE with defense giant Lockheed Martin last week. Through the partnership, Venus and Lockheed will focus on evaluating the RDRE's propulsion architecture in defense systems, specifically for precision fires applications where weapons are designed to accurately strike targets at long distances.

Lockheed Martin Ventures, the investment arm of the aerospace and defense contractor, is an investor in Venus Aerospace.

"Lockheed Martin is focused on rapidly delivering advanced capabilities that strengthen deterrence and provide decisive advantages for the warfighter," Tim Cahill, president, Lockheed Martin Missiles and Fire Control, said in a news release. "Our collaboration with Venus Aerospace allows us to evaluate a promising propulsion technology and determine how it can be integrated into future precision fires solutions. Efforts like this help accelerate innovation, reduce risk and shorten the path from emerging technology to operational capability."

Venus' RDRE is expected to enable vehicles to travel four to six times the speed of sound from a conventional runway and is about 15 percent more efficient than traditional alternatives, according to the company.

Venus says the reusable, affordable and scalable RDRE is designed with a "common propulsion architecture" that can work for multiple industries and mission types. The company has previously estimated that the hypersonic market is projected to surpass $12 billion by 2030.