Five Tips for Reckoning with Rising Healthcare Costs

All it takes is a glance at the bills from your medical and health insurance providers — and the dent that paying them makes in your bank account — to know that healthcare costs are rising steadily from year to year, with little sign of abating.

Just how much are they increasing? Consider the following national estimates:

  • Annual family premiums for employer-sponsored health insurance rose an average of three percent, to $18,764, in 2017, continuing a six-year run of relatively modest increases, according to the benchmark Kaiser Family Foundation/Health Research & Educational Trust (HRET) 2017 Employer Health Benefits Survey. Since 2012, average family premiums have increased 19 percent, more slowly than in the previous five years (2007 to 2012), when they increased 30 percent.
  • People buying health insurance on an exchange or in the private market saw their cost for coverage increase a stunning 25 percent before subsidies, according to the National Conference of State Legislators.

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