Workers and their employers are paying a lot more for job-based health insurance this year.
The annual cost of family health insurance coverage at work soared to an average of nearly $24,000 this year, according to KFF’s Employer Health Benefits Survey, released Wednesday. That’s up 7% from last year.
Employees are shelling out an average of $6,575 for their share of the premium, up almost $500, or close to 8%, from last year, the annual survey found. Their companies are footing the rest of the bill.
“We have a huge premium increase this year. There’s just no other way to cut it,” said Matthew Rae, who co-authored the survey. “There are lots of affordability challenges for employer coverage.”
For single coverage, the average annual premium rose to $8,435, also up 7% from last year. Workers are picking up just over $1,400 of the tab, about $75 more than last year.
Read more at Cnn.com
What Are Your Thoughts?
