Which Is Increasing More Quickly – Health Insurance Costs Or Wages?

Which Is Increasing More Quickly – Health Insurance Costs Or Wages?

Well, which can Americans expect to rise more quickly – health insurance costs or wages? If you guessed heath insurance costs, you are correct. According to a recent CNBC article, “People with insurance through an employer—that is, most people with health coverage—are paying ‘more in premiums and deductibles than ever before’ as those costs outpace the growth of wages, a new report finds. Total premiums for covering a family through an employer-based plan rose 73 percent from 2003 through 2013, while workers’ personal share of those premium costs leaped 93 percent during the same time frame, the Commonwealth Fund report said. At the same time, median family income grew just a measly 16 percent.”

This holiday season, Santa has been able to deliver an early gift of encouraging job reports. All the while, Grinch plots to cast a damper spell on Christmas with alarming reports of rapidly increasing health care costs. Let’s hope the New Year finds Congress and the President working together to create sustained economic joy for all Americans.

 

Click here to read the full CNBC article. 

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