The Soaring Cost of Family Health Insurance: $24,000 a Year

Premiums for employer-sponsored health insurance have increased by 7% this year, with the average cost for a family plan reaching $23,968 annually. Workers typically pay over $6,500 towards this amount, while employers cover the rest. The cost of single plans also rose, averaging $8,435 annually. These increases outpaced workers' wages and inflation. The rising costs of job-based health insurance premiums highlight the ongoing struggle with medical bills and the lack of a national strategy to address healthcare costs. Approximately 153 million Americans receive health insurance through their employers, and future out-of-pocket increases may be expected as 23% of employers plan to increase workers' contributions in the next two years.