Employer-sponsored insurance costs soar in NY, report says
Employer-sponsored insurance-premium costs for single and family coverage saw double-digit increases in New York last year, according to a new study from Manhattan-based nonprofit The Commonwealth Fund.
From 2016 to 2017, average annual premium costs increased 10.5%, to $7,309, for single coverage and 10%, to $21,317, for family coverage. That compared with increases of 4.4%, to $6,368, for single coverage and 5.5%, to $18,687, for family coverage nationwide during the same period.
"The cost of employer health insurance premiums and deductibles continues to outpace growth in workers' wages," said Sara Collins, lead author of the study and Commonwealth Fund vice president for health care coverage and access, in a statement. "Policies that would reduce health care burdens on employees include fixing the Affordable Care Act's family-coverage glitch, requiring employers to exclude some services from the deductible and increasing the required minimum value of employer plans."
In the state, the total potential annual out-of-pocket costs for employees grew 14.7%, to $7,393, last year, or 12% of median income. This was up from $6,445, or 11% of median income, in 2016.
"The higher the out-of-pocket costs, the less likely you are to access care when you need it," Collins said. That includes filling prescription drugs, she said.
Crain's NY
From 2016 to 2017, average annual premium costs increased 10.5%, to $7,309, for single coverage and 10%, to $21,317, for family coverage. That compared with increases of 4.4%, to $6,368, for single coverage and 5.5%, to $18,687, for family coverage nationwide during the same period.
"The cost of employer health insurance premiums and deductibles continues to outpace growth in workers' wages," said Sara Collins, lead author of the study and Commonwealth Fund vice president for health care coverage and access, in a statement. "Policies that would reduce health care burdens on employees include fixing the Affordable Care Act's family-coverage glitch, requiring employers to exclude some services from the deductible and increasing the required minimum value of employer plans."
In the state, the total potential annual out-of-pocket costs for employees grew 14.7%, to $7,393, last year, or 12% of median income. This was up from $6,445, or 11% of median income, in 2016.
"The higher the out-of-pocket costs, the less likely you are to access care when you need it," Collins said. That includes filling prescription drugs, she said.
Crain's NY
Comments
Post a Comment