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Sunday, 23rd August 2009

New Report: Employer-Sponsored Health Insurance Premiums Increase 119 Percent from 1999-2008; Projected to Double Again by 2020

New Report: Employer-Sponsored Health Insurance Premiums Increase 119 Percent from 1999-2008; Projected to Double Again by 2020
Source: Commonwealth Fund

Nationally, family premiums for employer-sponsored health insurance increased 119 percent between 1999 and 2008, and could increase another 94 percent to an average $23,842 per family by 2020 if cost growth continues on its current course, according to a new Commonwealth Fund report.

The report, Paying the Price: How Health Insurance Premiums Are Eating Up Middle Class Incomes, State Health Insurance Premium Trends And The Potential Of National Reforms, finds that national reforms that slow health care cost increases by 1 to 1.5 percent per year would yield substantial savings for families and businesses across the country. By 2020, slowing the annual rate of growth by 1 percent would yield more than $2,500 in reduced premiums for family coverage, and slowing growth by 1.5 percent would yield more than $3,700 in premium savings compared to projected trends.

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