Each year, the Kaiser Family Foundation and the
Health Research & Educational Trust conduct a survey to examine
employer-sponsored health benefit trends such as annual
deductibles, plan enrollment, and health and wellness programs. The
2018 edition of this survey has been released, and it discusses a
lot, including how health care costs continue to rise.
One of the key findings of the survey was that the average cost of
employer health coverage offered to workers rose 5 percent for a
family plan in 2018, reaching nearly $20,000. For individual
coverage, the average cost rose 3 percent from 2017 at just under
$7,000.
While it was predicted years ago that health care costs would
continue to rise, the sticker shock can be hard to get past.
Industry experts believe that an increase in the costs of health
care services is the reason why insurance premiums are consistently
increasingly expensive.
How Are
Employers Combatting Rising Costs?
Many employers have sought out ways to offset the cost of rising
health insurance premiums. One of the most common ways this is
accomplished is through increasing annual deductibles. For 2018,
the average annual deductible for single coverage was $1,573 and
the average annual deductible for family coverage was $4,676.
Another common way to reduce costs is to give employees the
resources they need to become wiser health care consumers. Helping
employees learn how to use the right health care services and shop
around whenever possible can help employers and employees spend less
money on health care services.
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