McKnight’s Senior Living November 21, 2023
The cost of employer-sponsored health insurance plans is increasing both for employers and employees, according to recent studies.
According to KFF’s 25th annual employee benefits survey, the average annual premium for employer-sponsored health insurance as of July was $8,435 for individual coverage and $23,968 for family coverage, a year-over-year increase of 7%.
“Over the last five years, the average premium for family coverage has increased by 22% compared to a 27% increase in workers’ wages and 21% inflation,” according to KFF.
Workers are kicking in substantially more toward health insurance premiums, according to the data. On average, covered workers are contributing 17% of the overall premium for single coverage and 29% of the premium for family coverage.
“I think...
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