Advisory Board March 17, 2025
Many Americans are struggling with high healthcare costs, leading millions to have to borrow money to pay for necessary care.
Health insurance premiums continue to grow rapidly
According to KFF Health News, average monthly premiums for families with employer-provided health coverage have grown rapidly over the last 15 years. In California, the average monthly premium increased from just over $1,000 in 2008 to almost $2,000 in 2023. Premiums also continued to grow significantly in 2024.
“Insurance premiums have been going up faster than wages over the last 20 years,” said Miranda Dietz, a researcher at the University of California-Berkeley Labor Center. “Especially in the last couple of years, those premium increases have been pretty dramatic.”
Between 2021 and 2023,...
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