Family health costs skyrocketing: Milliman
By Lauren McNitt
ProWEB Wire (Industry News)
While the Supreme Court reviews the health care reform law, health care costs for families continue to soar.
The health costs of a family of four under an employer plan is projected to reach $20,000 or more this year, an increase of more than 7 percent from last year, according to Milliman Inc. In 2002, the cost was just $9,235.
If Milliman’s estimates are correct, 2012 will be the fifth consecutive year that health care costs will rise between 7 percent and 9 percent annually.
Employers still take on most of their employees’ health care costs, but more are passing extra costs on to employees through higher deductibles, co-pays and premiums. For example, last year out-of-pocket costs for employees rose 9.2 percent to $3,280 for the average family of four, according to Milliman.