Cost of health insurance continues to rise for companies, employees

An annual study conducted by the Kaiser Family Foundation found that family health insurance premiums this year grew at triple the pace of 2010. The struggling economy has had an effect as employer-sponsored plans saw family premiums grow 9 percent as compared with the 3 percent hike in 2010.

Single premiums also rose from 5 percent to 8 percent. The cost of healthcare continues to climb for both employers and their employees.

In a survey of 2,088 large and small companies, both public and private, Kaiser and the Health Research & Educational Trust found that the average employee contributes 28 percent to the employer-sponsored family plan. Including the employer contribution, coverage is now 131 percent more than 10 years ago.

Contributing factors to the increased premiums were not part of the survey, but the 12-member congressional “super committee” working on a deficit-reduction strategy has made the soaring costs of health insurance one if its main issues, according to a Reuters report.

Topics: Articles