Cost of premiums, deductibles are an increasing burden on working Americans
In 2020, health insurance premiums and deductibles ate up 11.6% of Americans' incomes.
By Scott Wooldridge|January 12, 2022 at 02:26 PM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
Americans in employer-sponsored health plans saw the percentage of their income spent on insurance premiums and deductibles rise to 11.6% in 2020, up from 9.1% a decade earlier, according to a new report from the Commonwealth Fund.
In addition, premium and deductible costs equaled more than 10% of income for workers in 37 states by 2020, compared to only 10 states in 2010. In nine states, combined health care costs were more than 14% of annual median income.
Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.
Your access to unlimited BenefitsPRO.com content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
It’s no secret that health benefits have struggled to keep up with workforce expectations during the Great Resignation. Remaining competitive means employers must streamline their health benefits, put employees first and deliver on brand values. Download this guide to help your clients gain an edge in 2022 with their health benefits.
Amid mass resignations and record-high job openings, employees are now firmly in the driver’s seat when it comes to where and how they work. So, how are you going to stand out in this highly competitive market? This guide outlines a forward-thinking health benefits strategy that will ensure your company remains competitive in 2022 and beyond.
Millennials and Gen Z value tobacco and nicotine cessation more than ever before, but quit programs must adapt to their evolving needs. New research indicates successful quit programs have three key facets. Download this interactive ebook to learn how to set your company apart with an effective quit services benefit.