Health care for workers – Healthcare Economist

On this Labor Day, how is health care evolving for workers and businesses? First, health care spending is increasing, with costs rising faster than inflation. Fox Business reports on a new study from Aon that says:

…employer health care spending is projected to rise 9% in 2025 to more than $16,000 per employee, notably higher than the 6.5% increase companies saw in their health care budgets between 2023 and 2024.

One way to save money is for employers to contract directly with health care providers. BenefitsPro Reports that:

…around 75% of employers have already considered or used direct hiring, and another 41% said they are likely to do so by 2025.

The cost of health care varies between individual and family coverage. KFF reports:

The average annual premium for employer-sponsored health insurance in 2023 is $8,435 for individual coverage and $23,968 for family coverage.

For both individual and family plans, employees make significant contributions to health insurance.

On average, covered workers contribute 17% of the premium for single coverage and 29% of the premium for family coverage, similar to the percentages contributed in 2022. Covered workers at small businesses contribute, on average, a higher percentage of the premium for family coverage than those at large businesses (38% vs. 25%). As a result, the average contribution amount of covered workers at small businesses ($8,334) is considerably higher than the average contribution amount of covered workers at large businesses ($5,889).

For more on the quality and cost of healthcare for workers, stay tuned to this year’s Healthcare Economist blog.

We will be happy to hear your thoughts

Leave a reply

Tools4BLS
Logo
Register New Account
Compare items
  • Total (0)
Compare
0
Shopping cart