Health Insurance Premiums On The Rise
Ouch!
Thanks to President Biden’s skyrocketing inflation, a new report from the Kaiser Family Foundation has found that annual premiums for family health insurance is expected to surge to new costs in 2023.
According to Breitbart, in 2022 family health insurance rates increased by just 1% to $22,463 compared to $22,221 in 2021. Employers are now very concerned about how much rates will go up in 2023.
President Biden continues to outdo himself.
KFF CEO Drew Altman explained, “Employers are already concerned about what they pay for health premiums, but this could be the calm before the storm, as recent inflation suggests that larger increases are imminent. Given the tight labor market and rising wages, it will be tough for employers to shift costs onto workers when costs spike.”
The KFF’s report explained that as inflation continues to soar, higher increases in the average health insurance premiums are set to go up without a doubt.
LOOK:
Employer-sponsored family coverage cost an average of $22,463 this year—a minor change from 2021 while inflation and wages rose.
That’s unusual, as since 2012, family premiums have risen 43% – more than inflation (25%) and a little more than wages (38%): https://t.co/hk1rrqtfqb pic.twitter.com/caFsqGL7vY
— KFF (Kaiser Family Foundation) (@KFF) October 28, 2022
