Health Insurance Premiums on the Rise
Health insurance costs are increasing, with the average annual premium for an employer-based health insurance plan for a family of four exceeding $25,500 last year, according to the health policy nonprofit KFF.
Employers contributed about $19,200, while workers contributed around $6,300. Total premiums have risen more than 24% since 2019 and are expected to surge next year.
The high cost of healthcare in the US is largely driven by for-profit companies, including drugmakers, pharmacy benefit managers, hospitals, and insurance companies.
Despite the expense, some companies are opting to pay for all of their workers' premiums, citing long-term benefits.
Health care is the most expensive in the developed world, and it's getting worse.
- Average annual premium for a family of four: over $25,500
- Employer contribution: around $19,200
- Worker contribution: around $6,300
- Premium increase since 2019: over 24%
Author's summary: Some companies cover all health insurance premiums for their workers despite rising costs.
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