This year, the cost of job-based health insurance has increased for both employees and their employers.
According to KFF’s Employer Health Benefits Survey, which was released on Wednesday, the average yearly cost of family health insurance coverage at work skyrocketed to nearly $24,000 this year. That is an increase of 7% from the previous year.
In the current year, the annual premiums for family health coverage provided by employers have risen to $22,463. On average, employees are responsible for contributing $6,106 towards the total coverage cost. Among employees covered by plans with a general annual deductible, the typical deductible for single coverage stands at $1,763.
In contrast, workers at smaller companies contribute almost $2,000 more, on average, towards family coverage costs compared to their counterparts at larger firms. Additionally, they face higher average general annual deductibles, which are $1,000 more.
The latest report also delves into employers’ perspectives and experiences related to mental health and substance use services, telemedicine, as well as wellness programs.
This year, the annual premiums for family health coverage provided by employers escalated to $23,968, and on average, employees are covering $6,575 of these costs. In plans featuring a general annual deductible, the average deductible for single coverage is $1,735 among covered workers.
It’s worth noting that workers at smaller firms, on average, contribute an additional $2,445 towards the expense of family coverage compared to their counterparts at larger companies. In addition to these financial insights, the latest report also explores employers’ perspectives and experiences concerning abortion coverage, mental health and substance use services, as well as wellness programs.
This year, the annual premiums for family health coverage provided by employers escalated to $23,968, and on average, employees are covering $6,575 of these costs. In plans featuring a general annual deductible, the average deductible for single coverage is $1,735 among covered workers.
It’s worth noting that workers at smaller firms, on average, contribute an additional $2,445 towards the expense of family coverage compared to their counterparts at larger companies. In addition to these financial insights, the latest report also explores employers’ perspectives and experiences concerning abortion coverage, mental health and substance use services, as well as wellness programs.
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