Mar 23
A Report on the Health Insurance Cost Curve
Families USA, a healthcare consumer advocacy group, is rolling out a national report that it has completed on the rise of healthcare costs. They are doing so in selected states first in order to maximize political impact, but have assembled statistics that reflect the situation across the country.
In Pennsylvania over the last six years, average annual premiums for family health coverage have risen from $6,721 in 2000 to $11,801 this year, an increase of $5,080. Median wages in that time rose from $24,834 to $28,145, an increase of $3,311, according to the report. The Pennsylvania’s premiums have risen faster than the national average. They have risen 75.6 percent, while the state’s wages also have gone up 13.3 percent.
Pennsylvania’s employers are covering less of the costs and providing fewer benefits than employers nationally, according to the report. Premium costs borne by employees for family coverage rose from $1,297 to $2,407, and premium costs paid by employees for individual coverage doubled from $373 annually to $762 in the six-year period.
Delaware is faring better than Pennsylvania, with premiums rising less than the national average and wages rising more. In Delaware, premiums grew 62 percent while wages rose 13.9 percent.
The study analyzes statistics from the U.S. Census Bureau and the Medical Expenditure Panel Survey conducted by the U.S. Department of Health and Human Services.
While this article is basically a regional snapshot, the national trend speaks for itself. Nationwide, health insurance premiums for family coverage have risen 73.8 percent over the six year period, while wages have risen 11.6 percent. What is not included is the number of employers who have dropped health insurance altogether.
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March 23rd, 2007 at 2:30 am
But the thing is that it may likes the other peoples too. Any guess why??
June 8th, 2007 at 12:41 am
One of the most interesting things about this cost curve is in the last line of the posting… what IS the number of employers (and employees) who have dropped health insurance coverage altogether?
Our local hospital recently transitioned from having some of the best, most comprehensive medical coverage available in the state, to some of the worst I have ever seen. And this is a HOSPITAL we are talking about, with the staff and resources to provide a lot of the care themselves!
It leads me to wonder what the future could possibly hold in this regard. Things do not look good.