By Melissa Patrick Kentucky Health News While much attention has recently been given to the number of people who sign up for health insurance on the federal exchange, the reality is that most people get their health insurance through their employer. A recent analysis by The Commonwealth Fund, a foundation interested in the health-care system, shows that the overall cost of employer-sponsored plans keeps going up. “The vast majority of people under age 65 in the U.S., 152 million, get their health insurance through an employer, and many of them can barely afford to pay for it. Several bipartisan policy fixes have the potential to reduce health care burdens for workers and families struggling to afford the health care they need, while also making our health system work better for everyone," Dr. David Blumenthal, president of The Commonwealth Fund, said in a news release. According to the analysis, 56 percent of people under 65 get their health insurance through an employer, … [Read more...] about Employer-sponsored health plans in Ky. saw modest cost hikes in 2017, but many people struggle with premiums, deductibles, etc.
Employer sponsored health plan
Nonprofit health plans that control a large chunk of Minnesota’s insurance market are ready to offer better deals to hang onto their customers, consultants say, now that they have new competition from for-profit carriers. Minnetonka-based UnitedHealthcare and Connecticut-based Aetna are making a push for more health insurance business in the state following a 2017 law that opened the market to more competition from investor-owned insurance companies. However, while employers say they are happy for more options, the changes are not swift and they remain frustrated by the broader trend of escalating health care costs without obvious signs that waste is being wrung out of the system. “We still have this huge affordability issue,” said Deb Krause of the Minnesota Health Action Group, a Bloomington-based coalition of large employers that offer health plans. “We need the new competitive landscape to focus on health care innovation in terms of more efficient resource … [Read more...] about Health plan competition heats up as nonprofit insurers take on for-profit giants in Minnesota
As American workers approach this year's open-enrollment season for employer-sponsored health care plans, they can expect the same bad news they've been hearing for years: Workers are once again getting hit with more of the costs of their coverage in the form of higher premiums and higher deductibles. Annual family premiums rose 5 percent to an average of $19,616, the eighth year of increases, according to the 2018 Kaiser Family Foundation Health Benefits Survey released earlier this month. On average, workers contribute $5,547 of the cost of family coverage. Premiums for singles increased 3 percent to an average of $6,896, with workers contributing an average of $1,186. Health care premiums continue to take up more of employees' paychecks, according to Kaiser data. Since 2008, average family premiums have jumped 55 percent, twice as fast as workers' earnings and three times as fast as inflation. Meanwhile deductibles -- the amount patients pay for health care before insurance kicks … [Read more...] about Your employer’s health plan will cost more in 2019
Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Advertisement Supported by ByRobert Pear June 18, 2018 WASHINGTON — The Trump administration is poised to issue a sweeping rule that makes it easier for small businesses to band together to create health insurance plans that skirt many requirements of the Affordable Care Act, offering lower costs but also fewer benefits. The final rule is to be unveiled Tuesday, administration officials and congressional aides said. President Trump has said millions of people could get cheaper coverage from the new “association health plans.” But consumer groups and many state officials are opposed, saying the new plans will siphon healthy people out of the Affordable Care Act marketplace, driving up costs for those who need comprehensive insurance. The new entities would be exempt from many of the consumer protections mandated by the … [Read more...] about Trump Clears Way for Health Plans With Lower Costs and Fewer Benefits
At 61, Ron Hayden figured he would stick with his software development and management career of three decades well past traditional retirement age, enjoying challenging work, a good salary, and solid health insurance. But then he got laid off in a company reorganization late last year. Not only did his income drop, his health insurance soared to $19,000 a year — for a plan that covers less than his old one. Now, he is hoping his health – and his consulting income — hold out until he hits Medicare age. “When you’re talking about $19,000 a year over four, you’re talking $70,000 to $80,000 — that’s a lot,” he said. And that calculation, he knows, doesn’t even include inevitable insurance rate hikes, or the rising cost of health care. “If I had to tap into my retirement to pay for it, it would start to take away from those things we were looking to do,” the Cherry Hill man said. “The thing about retirement … [Read more...] about Mounting health costs a financial vise for boomers nearing retirement