Tuesday, May 15,2012
By: Carrie Van Brunt-Wiley
The annual cost of the healthcare needs for the average family has topped $20,000 this year after increasing once again, according to a new report.
The consulting firm Milliman says that the average cost of care for a family of four covered under an employer-sponsored health insurance plan this year is $20,728, an increase of 6.9 percent compared to last year. While that is the smallest percentage increase in the past decade, the rising costs continue to affect health insurance rates nationwide.
"Some families may be surprised to hear their total average healthcare costs are exceeding $20,000 this year," said Scott Weltz, consulting actuary with Milliman. "While everyone knows the cost of healthcare is increasing, most people who receive health insurance through their employer are insulated from the true costs associated with the care they receive."
The firm says that on average, employers pay an average of $12,144 in healthcare costs while employees pay $8,584 either out-of-pocket or via payroll deductions.
The future of the healthcare industry remains uncertain while the Supreme Court considers the government's healthcare reform bill. Many of its more sweeping provisions have yet to go into effect.
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