Premiums for family health plans hit $15,745

[mahatmakanejeeves]

Source: Associated Press

By RICARDO ALONSO-ZALDIVAR, Associated Press – 1 hour ago

WASHINGTON (AP) — It sounds like good news: Annual premiums for job-based family health plans went up only 4 percent this year.

But hang on to your wallets. Premiums averaged $15,745, with employees paying more than $4,300 of that, a glaring reminder that the nation's problem of unaffordable medical care is anything but solved.

The annual employer survey released Tuesday by two major research groups also highlighted another disturbing trend: employees at companies with many low-wage workers pay more money for skimpier insurance than what their counterparts at upscale firms get.

Overall, "it's historically a very moderate increase in premiums," said Drew Altman, president of the Kaiser Family Foundation, which conducted the survey with the Health Research & Educational Trust.



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[LuckyLib]

1. This thanks to our criminal medical insurance industry, Big Pharma,

and the medical establishment all in bed together. Makes my blood boil!

[jtuck004]

2. Criminal? But we just mandated that they get 20 million new customers?

And keep Americans from opportunities to lower their costs for medicine, such as the Canadians have.

That would mean we are funneling victims to criminals...

U.S.A.! U.S.A.! U.S.A.!

[central scrutinizer]

3. loss ratio

That is the term to describe how much of each premium dollar goes out in paid claims. For profit insurers like it to be around 60%. Remember there is marketing and their system is marbled with layers of middlemen, each taking a commission, as well as profits to pay dividends to shareholders as well as administrative costs. Medicare runs, I have read somewhere, a loss ratio of 97% meaning that only 3% is eaten up by administration - there is no marketing, profit, etc.

[Rose Siding]

4. The ACA changed that. 80% has to be spent on care

or refunded.