Posted on 09/02/2010 10:06:28 AM PDT by Signalman
NEW YORK (CNNMoney.com) -- American workers are taking yet another blow to their wallets this year -- a whopping 14% jump in costs to insure their families.
The spike comes even as premiums for family coverage rose only 3%. This discrepancy is a result of cost-conscious companies shifting more of the insurance burden onto employees.
Employees are paying about $4,000 to buy family insurance in 2010, $482 more than they did last year, the Kaiser Family Foundation said Thursday.
Companies still pay the bulk -- nearly $9,800 for a family of four -- but that was down a little from 2009.
The Kaiser survey was conducted between January and May 2010 and polled more than 3,000 employers nationwide.
Over the past five years, employees share of insurance premiums have risen 47%. That has outpaced a 27% jump in overall premiums and an 18% increase in wages, according to Kaiser.
(Excerpt) Read more at money.cnn.com ...
That's a bargain. Where I work the annual premium for an 80/20 PPO plan is over 16,000.00
Yep, 16 grand.
talked about this at length with someone yesterday...his health insurance $$$ went through the roof upon renewal...this is another nail in the coffin for the rats this November as employees usually get renewal benefit packages in October and they’ll see how all the BS about obamacare is exactly that...
One major reason that health care costs have risen so dramatically is that too many people have insurance. Old folks look to the government and too many young folks have developed an "entitlement" attitude that is crushing their employers. We are becoming a nation of leaches.
Free people learn to care for themselves.
Foreseen and intended. The idiots in Washington want working people to pay and pay and pay the premiums for the people who vote democrat.
Dang.
Thought mine was bad at 13 grand. Dropped in May to “only” about $8500
Try being self-employed and paying for it all yourself.
my employer actually paid this bill for 13 months after i was laid off.
going from $900 a week to $300 kind of made the insurance decision for me.
if all these leftists are so smart, how is it so when they will now be paying any health related bills i incur..?
i sure as hell can't pay them.
i’m lucky to pay rent.
I was told by our HR lady, that not only were the premiums going to rise, but whatever the cost of the insurance is (say 10K a year) that was going to be included as income by the feds.
So if this is true, I just got a 10k a year raise without ever seeing the money, but I get to pay more in taxes.
The way I figured it, approximately $4200 a year..
Didnt a new mandate to cover young adults just kick in? And insurance companies are not allowed to charge those families getting that benefit more for it than those without their adult kids on their family policies. Some idiots thought these mandates are free.
RE: “Try being self-employed and paying for it all yourself.”
******************
Yes, or being in the fifties/early sixties age range with NO job and paying premiums totally out of pocket for lousy coverage. The next increase, coming soon, means I will drop the ins despite cautions from accountant and physicians. I’ll just take my chances for four years and I know I’m not the only one doing so. ENOUGH!!!
We were just informed yesterday that our large companies plan falls under the cadillac plan definition so our out-of-pocket cost will jump 14% to match the added cost imposed by the Government. I heard a few Liberals who voted for Obama grumbling. Hope they like the change they voted for.
That will be fun.
I pay over $600 for my husband for ONE month...
Yep. My wife opened the letter from our insurance folks last week. Next month it goes up over 20%! (I’m also turning 50.) Hey - I wonder if Obama can do my colon cancer thingy while I’m bent over and he’s up there anyway!?
And the folks down the road at the Coca-Cola plant are on strike ‘cuz the company wants them to pay a $15 co-pay.
“In the recently passed health care legislation, beginning in 2018 there will be a 40 percent tax - the so-called “Cadillac tax” - levied on companies with health care plans that cost more than a certain amount set by the government.
Snip…
a tax will be imposed on certain employer plans beginning in 2018. Even before then, however, there will be additional costs for employers in the form of newly required benefits and a phenomenon called “cost shifting.”
Cost shifting occurs when doctors and hospitals face cuts from public programs like Medicare, and they seek to make up their lost revenue from employer plans. Today, that practice adds an estimated 11 percent to the cost of employer plans,
and that “hidden tax” could grow. While there also is funding in the new legislation to help improve the quality of care, it may be many years before those new initiatives can offset the growing costs that employers face.
Employees are paying about $4,000 to buy family insurance in 2010, $482 more than they did last year
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.