Tuesday, September 26, 2006

Health Insurance Costs Outpacing Inflation...

The associated press is reporting that health care costs will be going up this year by 7.7%, twice the rate of inflation. That's the smallest increase since 1999. Since 2000 health insurance premiums have been raised by 87%, while wages are only up 20%. A survey done by "The Kaiser Family Foundation" finds that more that 155 million American's obtain their health insurance through they're employer. On average those employers pick up 84% of the cost for individuals, and 73% for families. employers pick up 84% of the cost for individuals, and 73% for families.

I guess it's not a surprise that since 2000, the percentage of companies providing health insurance has gone from 69% to 61%. But they also find that number has been slowing as of late with the smaller businesses. The average cost of health insurance for an individual is $4,242, while families are paying $11,480. It's estimated that 2.7 million workers are enrolled in high-deductible plans with a savings account. employers pick up 84% of the cost for individuals, and 73% for families. employers pick up 84% of the cost for individuals, and 73% for families.

Employers or employees get a tax break when they put money into those accounts. Another survey finds that 167 large corporations expect raising health care costs, about 6%, which is way above the expected inflation numbers. Another one of the many reasons to become, be, and stay healthy...

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