How to cut back on health insurance deductibles

By Laura DeYoungPublished Aug 08, 2018 09:16:42The National Center for Health Statistics (NCHS) recently released data on the health insurance costs of workers.

The numbers show that workers who work for large employers are more likely to be covered by employer-sponsored health insurance, but that the costs of that coverage can be prohibitive. 

The median cost of employer-provided health insurance is $5,000, and the median cost for workers with private health insurance was $8,200.

For workers with non-group health insurance plans, the median price is $4,400, while the median for workers who are covered by the government’s Health Benefit Exchange (HBEX) was $3,200 in 2017.

The average annual premium for a worker with private coverage was $1,500 in 2017, but it was $5 on average for workers covered by government health insurance programs, and $9,400 for workers insured by private health plans.

In addition, the average annual cost of coverage for workers in the private sector was $2,700 in 2017 for a median of $2.5 million.

The average cost of worker coverage was only $2 million in 2017 among the same group of workers with public plans.

What are the numbers?

For workers who were covered by a group of employer health plans, in 2017 the median total cost of the employer-funded health insurance plan was $11,800.

The median cost per worker was $6,800, and there was no difference between the average cost and the average premium among those workers with employer-based health insurance.

For workers in private health coverage, the annual cost per year was $18,000 for a $7,600 premium, and an average premium of $6.2 million.

Workers who were not covered by private insurance were only covered by health insurance for the last four years of their employment.

The number of workers covered in private plans has increased since 2010, but not by much, according to the NCHS.

Since 2010, the share of workers who reported being covered in a group plan increased from 26 percent to 32 percent.

But in 2017 it increased only by 4 percent.

It’s not all bad news for workers on the dole, however.

The NCHP reported that the cost of private health plan coverage for the lowest-wage workers decreased by $7.2 billion between 2009 and 2018.

The cost for those earning at or below the federal poverty line decreased by over $10 billion, while that for the top 10 percent dropped by $1.2 trillion.

The number is particularly worrisome for workers at the bottom of the economic ladder, as these workers are more vulnerable to the cost increase.

The analysis for workers earning less than $24,000 per year, however, showed that the number of private-sector workers who could be negatively impacted by the cost increases was much smaller than the number who were negatively impacted.

The bottom 20 percent of workers had an average of $5 million in private-solution costs per year for coverage, while workers in that group had an annual average of only $3.4 million.

How much will it cost?

The Kaiser Family Foundation recently released its report on the cost to the U.S. economy from health care, and found that it is likely that the nation will see a loss of more than 1 million full-time equivalent (FTE) jobs from the Affordable Care Act (ACA) implementation, as a result of the ACA’s new cost-sharing requirements, which are expected to cost the economy $6 trillion in 2020. 

According to the report, the ACA will cost about $10,000 to $18 for every worker who is uninsured by 2020, and will cost the government $13,500 to $24 for each FTE job lost.

The estimated annual loss to the economy from the ACA is estimated at $3 trillion by 2030, when the full implementation of the law is expected to be fully implemented.

As a result, the cost estimates by the Kaiser Family Foundations for the ACA, the Patient Protection and Affordable Care Acts, and a variety of other health care legislation, are based on assumptions about the full effects of the legislation on health care spending, and on the timing of the implementation of many of the provisions of the act.