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Health Insurance Deductibles Growing Dramatically
Health Care Law Not Reducing Costs to Families
(Washington, D.C.) – New data shows that while the overall cost of employer provided health insurance has grown slowly in recent years, the out-of-pocket costs to employees are increasing far more rapidly. The average annual premium for a family plan is now nearly $17,000, according to the survey – with employees paying an average of $4,823 of the cost. But while overall plan cost grew slowly during and after the recession, deductibles are growing at a rapid pace – up nearly 50 percent since 2009. The average annual deductible is now $1,217; it was only $826 five years ago.
As costs continue to increase, workers are seeing more and more of their paychecks go towards health premiums. While historically worker contributions were closely tied to premium increases, since 2010, worker contributions to their health care premiums have outpaced actual increases in premium costs – signaling a new trend of greater out of pocket costs. Over that same time, the percentage of American employers offering insurance to their workers has also declined. From its peak at nearly 70 percent in 2010, today just 55 percent of employers make coverage available to employees.
Rachel Campos-Duffy, National Spokesperson for The LIBRE Initiative, released the following statement:
"Families are having a harder and harder time making ends meet, and many are seeing paychecks shrink thanks to growing health care costs, tax increases and a bad economy. We were promised that the health care law would bring down the cost of insurance and care. Instead out-of-pocket costs are exploding – and premiums continue to rise as well. This makes it harder for families and small businesses to stay afloat.
The people who continue to support the Obamacare system have to face facts: this law remains deeply unpopular because the American people can't be fooled. They know what they were promised, and this isn't it. The law was supposed to reverse a trend of higher costs and less choice. Instead it seems to be making it harder for American families."