dearJulius.com Write For Us

Companies spent $20K per family health premium in 2018, study finds

SHARE:

Though employers spent more on health insurance premiums in 2018, workers contributed less than they did in 2017. File Photo by agilemktg1/Flickr

By Danielle Haynes, UPI

The amount companies spent on their employees' family health plans rose to nearly $20,000 in 2018, up 5 percent from the year before, a data analysis released Wednesday indicates.

Kaiser Family Foundation Employer Health Benefits Survey found that the average employer spent $19,616 this year per employee for family health coverage. That's up from $18,764 (a 4.54 percent increase) in 2017 and $12,680 in 2008 (54.7 percent).

Employers spent $6,896 per year on single employee plans, up from $6,690 in 2017 (3.08 percent) and $4,704 in 2008 (46.6 percent).

Kaiser said the premium increases were on par with the rise in workers' wages in 2018, 2.6 percent, and inflation, 2.5 percent.

Meanwhile, workers' contributions for family health coverage decreased, from $5,714 in 2017 to $5,547 in 2018 -- a 2.92 percent drop. Workers' contributions to single plans also went down from $1,213 to $1,186 -- a 2.23 percent drop.

In 2008, the average worker contribution to family coverage was $3,354 (a 65.38 percent change) and to single coverage was $721 (64.49 percent).

"Over time, the increases continue to outpace wages and inflation," Kaiser said. "Since 2008, average family premiums have increased 55 percent, twice as fast as workers' earnings (26 percent) and three times as fast as inflation (17 percent)."

The Kaiser report comes one week after Health and Human Services Secretary Alex Azar announced that the cost of "benchmark" plans under the Affordable Care Act will fall 2 percent next year.

The Kaiser survey was conducted between January and July 2018 and included 4,070 randomly selected, non-federal public and private firms with three or more employees.

COMMENTS



Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...

Name

Alabama,1,Arizona,1,Barack,1,California,3,Colorado,1,Connecticut,1,Crime,531,Florida,1,Franc,1,Hawaii,8,Illinois,1,Los Angeles,2,Massachusetts,3,Mississippi,1,New York,130,U.S.,1558,Washington,4,
ltr
item
U.S. - U.S. Daily News: Companies spent $20K per family health premium in 2018, study finds
Companies spent $20K per family health premium in 2018, study finds
https://3.bp.blogspot.com/-cZ-LZq5-AzM/W7WjwmP6S0I/AAAAAAABCDA/oiDbzy5t1w8q26z4ocT-WQyCx_Rm5SQBgCLcBGAs/s1600/4.jpg
https://3.bp.blogspot.com/-cZ-LZq5-AzM/W7WjwmP6S0I/AAAAAAABCDA/oiDbzy5t1w8q26z4ocT-WQyCx_Rm5SQBgCLcBGAs/s72-c/4.jpg
U.S. - U.S. Daily News
https://us.dailynews.us.com/2018/10/companies-spent-20k-per-family-health.html
https://us.dailynews.us.com/
https://us.dailynews.us.com/
https://us.dailynews.us.com/2018/10/companies-spent-20k-per-family-health.html
true
3263844984480124152
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy