As tax season approaches, some consumers are waiting for their refund checks to spend on a long-delayed purchase — a visit to the doctor or dentist.
U.S. consumers boosted their out-of-pocket health spending by 60 percent in the week after they got a tax refund, according to new research from JPMorgan Chase & Co., based on data from Chase customer accounts.
Spending stayed high for about 2 1/2 months, with about two-thirds of the extra spending money going to in-person payments to doctors and dentists. Much of the rest was used to pay down past bills.
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