2012 health premiums outpace growth in workers’ wages and general inflation
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According to the not-for profit Kaiser Family Foundation (KFF) and Health Research & Educational Trust (HRET)’s Employer Health Benefits Survey Report, 2012 health insurance premium increases outpaced the growth in workers’ wages (1.7 percent) and general inflation (2.3 percent) in 2012. Since 2002, premiums have increased 97 percent, three times as fast as wages (33 percent) and inflation (28 percent), according to the annual survey.
Annual premiums for employer-sponsored family health coverage reached $15,745 in 2012, up 4 percent from 2011, with workers on average paying $4,316 toward the cost of their coverage. Premiums for worker-only health coverage increased 3 percent in 2012 to reach $5,615 annually. Workers on average pay $951 toward this coverage.
Kaiser President and CEO Drew Altman authored, “Pulling It Together,” a complete commentary on the survey results.
(Photo credited to: www.ctcumc.org)
DISCLAIMER: Because of the generality of this update, and based on particular situations, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice, financial advice and/or the advice of a licensed insurance or certified human resource professional.
© Connelly, Carlisle, Fields & Nichols 2012