According to the Commonwealth Fund report released today, the rise in the cost of healthcare has slowed but the burden for payment has shifted to the individual.
According to today’s NY Times article, “Insurance premiums have risen faster than median incomes for workers under 65 in all states in the decade from 2003 to 2013. Average annual premiums — including what both employers and employees contribute — represent 20 percent or more of the median income in 37 states. That was the case in only two states in 2003.”
From 2010 to 2013—the years following the implementation of the Affordable Care Act—there has been a marked slowdown in premium growth in 31 states and the District of Columbia. Yet, the costs employees and their families pay out-of-pocket for deductibles and their share of premiums continued to rise, consuming a greater share of incomes across the country.
Good find Paul.