Cost of Employer-Sponsored Health Insurance Skyrockets
The cost of health insurance hasn’t just outpaced the growth of family incomes in the United States—it’s blown past. According to a new study by the Commonwealth Fund, employer-sponsored family health insurance premiums rose by 119% from 1999 to 2008, while median family income rose by only 29%. And the gap is only going to get wider, unless reforms are enacted. The Commonwealth Fund estimates that if premiums are allowed to continue to rise at their current pace, families will go from paying $12,298 a year for health coverage to $23,842 by 2020, a 94% increase.
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