The cost of employer health insurance is up seven percent for a second straight year, hurting both employers and workers, according to an annual survey released by the nonprofit health policy organization KFF on Wednesday.
Consecutive years of increased healthcare costs have added more than $3,000 to the average family premium, which reached about $25,000 this year. Employers spent about $1,800 dollars more this year. Many businesses – particularly smaller ones – can’t keep up with the rising costs and workers ultimately endure those higher costs in other ways, like job cuts or smaller raises. Even though inflation has cooled, stress on the sector is expected to continue, at least for another year.
Governor Josh Shapiro warned Pennsylvanians of these hikes back in August, saying several popular carriers are increasing rates. One is Highmark, which rose 8.8 percent in several rating areas. UPMC Health Coverage rose seven percent while their health options rose approximately 4.8 percent.
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