State of Working America preview: A staggering rise in health insurance
costs
December 15, 2010 - Economic Policy Institute
Family health insurance premiums more than doubled between 1999 and 2009, far
outpacing the growth in workersf earnings and overall inflation. The
Figure, from EPIfs forthcoming State of Working
America Web site, plots the rise in health insurance premiums against both
inflation and hourly earnings for nonsupervisory and production workers, who
comprise 80% of the private-sector workforce.
While family health insurance premium costs grew 131% over the past 10 years,
inflation over that same period rose just 28.8% and hourly earnings rose by
38.1%. Since health insurance premiums are often shared between workers and
their employers, this disproportionate rise in the cost of health insurance
helps illustrate why it is increasingly difficult for both employers and their
workers to afford.
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