Average Health Care Plan Costs $20,000 – A Record High, Despite Trump’s Promises
September 25, 2019
Trump promised to lower prescription drug prices and to make health care cost less — that didn’t happen. Instead, health insurance costs just hit a record high and drug prices continue to increase faster than inflation.
$20,000: THE AVERAGE COST OF HEALTH INSURANCE HAS HIT A RECORD HIGH
Bloomberg: Health Insurance Costs Surpass $20,000 Per Year, Hitting a Record
The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely.
“It’s as much as buying a basic economy car,” said Drew Altman, chief executive officer of the Kaiser Family Foundation, “but buying it every year.” The nonprofit health research group conducts the yearly survey of coverage that people get through work, the main source of insurance in the U.S. for people under age 65.
While employers pay most of the costs of coverage, according to the survey, workers’ average contribution is now $6,000 for a family plan. That’s just their share of upfront premiums, and doesn’t include co-payments, deductibles and other forms of cost-sharing once they need care.