The Kaiser Family Foundation has discovered an increase in premiums for family health insurance occurred. However, the boost was reasonable compared to recent years, as double-digit price increases has been the norm for some time.
Average family health insurance costs as much as a brand new car annually
Everybody has heard some sort of inane spiel about "family values" at some point. Most of the time it's double-speak for "nullifying women's rights," but in certain cases there's a monetary value involved. One "family value" for a family of four is actually, according to Daily Finance, $15,745.
Or rather, that's the price of medical insurance for a family of four including two spouses and two kids, according to a recent survey by the Kaiser Family Foundation, a separate entity from Kaiser Permanente, the insurer, though incorporated under that corporate umbrella. That's enough to purchase a brand new car annually, in cash.
There is some good news, though, in that the increase over last year was moderate, at only 4 percent. In 2011, the same survey, which is compiled annually, discovered a 9 percent boost over 2010.
Worse for lower income employees
The journal "Health Affairs" will publish Kaiser's annual survey.
The employer pays much more of the cost than the worker. Of the $15,745 total, an employee only paid $4,316 while the employer paid $11,429. On an employee-only plan, the employer paid $5,615 with an employee contribution of $950. That was only a 3 percent increase.
In 2002, according to CNN, the average insurance premium was $8,003 for a family with an employee contribution at $2,137. The total increases to $10,192 when adjusted for inflation to today's dollars. That means that there have been real increases in insurance costs. They may be too much to bear soon.
CNN points out those lower-wage employees actually pay more for health insurance. Companies where at least 35 ideal of employee make over $55,000 a year paid $1,000 less in insurance premiums than companies where 35 percent or more of workers made $24,000 or less per year.
Not even inflation causing it
Deductibles have also increased. According to the New York Times, roughly half of all plans have deductibles of $1,000 or more, when compared with 21 percent in 2007.
Wages and medical insurance rates are not increasing at the same time. From 1999 until now, wages have only increased 47 percent, which is a little bit higher than the 38 percent rise in inflation. Still, the cost of health insurance premiums has increased 172 percent and the cost of employee contributions have increased 180 percent, according to the Washington Post.
Average family health insurance costs as much as a brand new car annually
Everybody has heard some sort of inane spiel about "family values" at some point. Most of the time it's double-speak for "nullifying women's rights," but in certain cases there's a monetary value involved. One "family value" for a family of four is actually, according to Daily Finance, $15,745.
Or rather, that's the price of medical insurance for a family of four including two spouses and two kids, according to a recent survey by the Kaiser Family Foundation, a separate entity from Kaiser Permanente, the insurer, though incorporated under that corporate umbrella. That's enough to purchase a brand new car annually, in cash.
There is some good news, though, in that the increase over last year was moderate, at only 4 percent. In 2011, the same survey, which is compiled annually, discovered a 9 percent boost over 2010.
Worse for lower income employees
The journal "Health Affairs" will publish Kaiser's annual survey.
The employer pays much more of the cost than the worker. Of the $15,745 total, an employee only paid $4,316 while the employer paid $11,429. On an employee-only plan, the employer paid $5,615 with an employee contribution of $950. That was only a 3 percent increase.
In 2002, according to CNN, the average insurance premium was $8,003 for a family with an employee contribution at $2,137. The total increases to $10,192 when adjusted for inflation to today's dollars. That means that there have been real increases in insurance costs. They may be too much to bear soon.
CNN points out those lower-wage employees actually pay more for health insurance. Companies where at least 35 ideal of employee make over $55,000 a year paid $1,000 less in insurance premiums than companies where 35 percent or more of workers made $24,000 or less per year.
Not even inflation causing it
Deductibles have also increased. According to the New York Times, roughly half of all plans have deductibles of $1,000 or more, when compared with 21 percent in 2007.
Wages and medical insurance rates are not increasing at the same time. From 1999 until now, wages have only increased 47 percent, which is a little bit higher than the 38 percent rise in inflation. Still, the cost of health insurance premiums has increased 172 percent and the cost of employee contributions have increased 180 percent, according to the Washington Post.
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