Tuesday, November 01, 2016

The Cost of Employer-Provided Health Insurance

With so much attention being paid to the rising cost of Obamacare premiums, it's easy to lose sight of the fact that most Americans (56 percent) are covered by employment-based health insurance. If you want to understand trends in the cost of health insurance for the majority of Americans, you won't find a better source than the Medical Expenditure Panel Survey Insurance Component Chartbook 2015. The Chartbook details the cost of health insurance benefits provided by private- and public-sector (state and local government) employers. The Chartbook examines trends in costs for single coverage, employee-plus-one, and families. These are the trends in single coverage costs over the past decade...

Total premium for single coverage
2015: $5,963
2005: $3,991
Change: +49%

Employee contribution for single coverage
2015: $1,255
2005:    $723
Change: +74%

Annual individual deductible
2015: $1,541
2005:    $652
Change: +136%

Source: Agency for Healthcare Research and Quality, Medical Expenditure Panel Survey Insurance Component Chartbook 2015

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