Insurance premiums on the rise
Patient Financial Services Weekly Advisor, September 14, 2007
The cost of health insurance premiums rose this year at its lowest rate since 1999, but the prices are still out of reach for many small to midsize companies and their workers, a new study said.
The Kaiser Family Foundation, a healthcare group that follows the cost of health insurance, said premiums have gone up 78 percent since 2001. This year, premiums for companies and their workers climbed 6.1 percent, but wages rose only an average of 3.7 percent.
"There's no scientific tipping point that you can point to at which health insurance becomes unaffordable," says Drew Altman, the foundation's president and CEO. "But it does seem like we've crossed a threshold where health insurance is increasingly unaffordable for medium-sized employers, particularly smaller employers and average people this year."
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