America’s larger employers and their staff have been digging deeper into their pockets this year when it comes to family health care premiums.
KFF, an independent, nonprofit group focusing on health policies, revealed that due to a 6 percent hike, family premiums are now costing employers an average of $26,993 annually, with employees paying an average $6,850 yearly toward the policy.
Formerly known as the Kaiser Family Foundation, KFF issued a report on Oct. 22 noting that family premiums are now costing $1,408 more than last year. Employers blame escalating drug prices as a major factor contributing to the rise in premiums.
KFF’s research indicates that among companies with at least 200 employees, 36 percent named prescription medications as bearing a large responsibility for increased premiums. More than 30 percent of employers said the growing prevalence of chronic diseases is affecting premium costs, while 22 percent blame newer drugs for driving the price increases….