Fact Based List:
Commonwealth Fund: Premium and Deductible Cost Sharing
Submitted by Anonymous on Fri, 12/07/2018 - 16:18
- Average employee premium contributions for single and family plans amounted to nearly 7 percent of U.S. median income in 2017, up from 5 percent in 2008.
- In 11 states, premium contributions were 8 percent of median income or more, with a high of 10.2 percent in Louisiana.
- Premium and deductible costs amounted to nearly %12 of median income in 2017. Added together, the total cost of premiums to workers and potential spending on deductibles for both single and family
- This combined cost ranged from a low of $4,664 in Hawaii to a high of more than $8,000 in eight states.
- In two states, Mississippi and Louisiana, these combined costs rose to 15 percent or more of median income.
- Premiums for employer health plans rose sharply in nearly every state in 2017. After climbing modestly between 2011 and 2016, overall premiums for employer health plansgrew more sharply in 2017
- Annual single person premiums rose above $7,000 in eight states and family premiums were $20,000 or higher in seven states.
- Average premiums for families increased overall in 44 states and the District of Columbia.
- Between 2016 and 2017, employee premium contributions rose by 6.8 percent to $1,415 for single-person plans and by 5.3 percent to $5,218 for family plans
- Contributions for single plans increased in 32 states, ranging from a low of $675 in Hawaii to a high of $1,747 in Massachusetts
- Contributions for family plans rose in 35 states and the District of Columbia, with the lowest increase in Michigan ($3,646) and the highest in Delaware ($6,533).
- The average deductible for single policies rose to $1,808 in 2017, a 6.6 percent increase.
Source: MCOL Blog
Source URL: http://www.mcolblog.com/kcblog/2018/12/7/premium-and-deducti...
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