August 28, 2019
A typical family of four spends as much annually on health coverage as the cost of buying a Harley-Davidson, according to a new analysis of rising health-care costs, Maureen Groppe reports in USA Today.
Premiums and out-of-pocket costs reached $7,726 in 2018 for those with employer-provided coverage.
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When the employer’s share of the health-care costs is included, the family could have bought a Honda Insight for the overall $22,000 price tag, according to the nonpartisan Kaiser Family Foundation, which combined data sources to show how much money families with employer coverage are actually spending on their premium contributions, deductibles and co-payments.
The analysis found that families’ health-care costs have risen twice as fast as wages and three times faster than inflation over the last decade. A typical family of four with employer coverage spent $4,706 on premiums and $3,020 on out-of-pocket costs like deductibles and co-payments in 2018.