You could buy a new economy car every year for the same amount.
The average total cost of employer-provided health coverage passed $20,000 for a family plan this year, according to a new survey, a landmark that will likely resonate politically as health care has become an early focus of the presidential campaign.
‘It’s the cost of buying an economy car, just buying it every year.’ Drew Altman Annual premiums rose 5% to hit $20,576 for an employer-provided family plan in 2019, according to the yearly poll of employers by the nonprofit Kaiser Family Foundation. On average, employers bore 71% of that cost, while employees paid the rest.
“It’s a milestone,” said Drew Altman, chief executive of the foundation. “It’s the cost of buying an economy car, just buying it every year.” Employees’ costs rose at an even faster clip — the average annual amount workers paid toward premiums for the family plans grew 8%, to $6,015 this year. The average deductible for single coverage, which employees pay out of their pockets before insurance kicks in, went up as well, to $1,655, though that didn’t factor in plans with no deductible at all.
For an individual employer plan, the average total premium cost was $7,188 in the 2019 survey, or 4% higher than last year.WeWork’s Neumann steps down as CEOComment
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