Health insurance costs continue to rise as President Obama’s healthcare overhaul begins to affect Americans’ insurance premiums, according to a study by the Kaiser Family Foundation and the Health Research and Educational Trust (HRET). Leaders in health policy analysis and communication, Kaiser and HRET found that annual family insurance premiums have spiked this year at a rate three times higher than in 2010, significantly outpacing wage increases and general inflation.
In a survey administered from January through May 2011, Kaiser and HRET interviewed 2,088 public and private employers asking questions about enrollment numbers, average firm and worker premium contributions, total premiums for single and family coverage, and insurance changes relating to coverage and benefits. In summary, the study concluded:
The average annual premiums for employer-sponsored health insurance in 2011 are $5,429 for single coverage and $15,073 for family coverage. Compared to 2010, premiums for single coverage are 8% higher and premiums for family coverage are 9% higher. The 9% growth rate in family premiums for 2011 is significantly higher than the 3% growth rate in 2010. Since 2001, average premiums for family coverage have increased 113%. Average premiums for family coverage are lower for workers in small firms (3–199 workers) than for workers in large firms (200 or more workers) ($14,098 vs. $15,520). Average premiums for high deductible health plans with a savings option (HDHP/SOs) are lower than the overall average for all plan types for both single and family coverage.
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