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The average cost of a health insurance plan offered through an employer rose 7% this year, to $23,968 for family plans and $8,435 for individuals, according to a new survey from the private health foundation KFF.
The jump—the highest since 2011—was driven by inflation, as well as higher wages for healthcare workers and hospital system mergers, health policy experts say. Here’s what it means for employers and the 150+ million Americans who get insurance through work:
- The increase amounted to ~$500 more out of pocket for family plan-holders, and $75 more for solo riders—further squeezing consumer spending power, which is already constrained by wages that haven’t caught up to high inflation.
- Employers often bear the brunt of increased health spending because, in the interest of staying competitive, they’re wary of offloading too much of the rising costs onto their workers. That’s likely why deductibles haven’t grown much in the past five years.
CITE: https://www.r2library.com/Resource
But things might get worse: 1 in 4 companies surveyed by KFF said they plan to increase employees’ premium contributions in the next two years
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Filed under: "Ask-an-Advisor", Drugs and Pharma, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Touring with Marcinko | Tagged: david marcinko, Health Insurance, Health Insurance Costs, health insurance spending, Healthcare Brew, KFF, Marcinko Associates | Leave a comment »