New study shows health insurance premiums rising sharply11/29/11 Robert Lorei
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Last week the Commonwealth Fund released a new report which reveals that premiums for employer-sponsored family health insurance plans have increased by 50 percent from 2003 to 2010. The report presents a state-by-state analysis of employer-sponsored family health insurance costs between 2003 and 2010â€”before the Affordable Care Act was passed.
Health insurance costs are outpacing family income growth in every state in the country, out-of-pocket costs are rising, and premiums are buying less. If pre-Affordable Care Act trends continue to rise at the rate seen from 2003 to 2010, annual premiums in 2020 would increase by 72 percent, reaching an average of $24,000 per family.
Our guest is Sara Collins, co-author of the report and Vice President of the Commonwealth Fund.