Prognosis
Health Insurance Costs Surpass $20,000 Per Year, Hitting a Record
Ever-rising premiums have pushed some to drop coverage
An empty hospital bed sits at New York Downtown Hospital.
Photographer: DANIEL ACKERThis article is for subscribers only.
The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely.
“It’s as much as buying a basic economy car,” said Drew Altman, chief executive officer of the Kaiser Family Foundation, “but buying it every year.” The nonprofit health research group conducts the yearly survey of coverage that people get through work, the main source of insurance in the U.S. for people under age 65.