Just when you thought it might be safe to peek your head back into the world of economic reports, it has hit the wire that American families will be shelling out an average of $16,771 this year for healthcare costs. That's a new record, up $1,162 per family. It's a vicious cycle -- hospitals, doctors, drug companies and others are hiking their rates to fight the recession. In turn, many companies, in an attempt to cut costs, have cut back on the amount they'll pay as benefits, putting the burden on the employees.
Employers' contribution to their employees' monthly insurance premiums rose by 5.4% during the past year, while employees' contributions surged 14.7%, marking the third-straight year of double-digit increases, according to consulting firm Milliman. Of course, this beats the alternative -- unemployment. Currently, about 170 million Americans rely on their employer for health insurance.
Beth Gaston Moon works for The Options News Network (www.ONN.tv), the first media outlet focused exclusively on providing daily commentary on the options market. The above comments are not intended as trading or investment advice.
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Reader Comments (Page 1 of 1)
5-19-2009 @ 12:10PM
Edwin Britt said...
The health care industry, that being the insurance companies, medical profession and hospitals are as greedy as the Wall Street bankers and are helping to drive this nation down the tubes. They should be regulated by the government too since the GREED FACTOR is their way of doing business and he heck with the people of the USA.