Premiums that people pay for health insurance through their jobs shot up this year after a period of minimal increases, according to KFF
The average cost of employer-based health insurance increased by 7% this year after minimal cost increases last year, according to a new analysis.
Workers paid an average $6,575 for the family premium — up almost $500 from last year — while employers covered the remainder, Wednesday’s research showed. People with single coverage paid just over $1,400 on average, the study said. It also comes in a job market that’s still hiring. The economy added 336,000 new jobs in September, which was nearly double the forecasted amount of new jobs.
Another factor is consolidation in the healthcare insurance market and pricey medications and treatments. “Those can be lifesaving and life-changing, but they absolutely cost a lot of money,” Rae said.
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