The Rising Costs of Employer Sponsored Health Plans
Hi, this is Connie Chiara with Corporate Benefit Partners. Employer-sponsored health insurance covers almost 153 million people in the United States. Like many other expenses, the cost for employer-sponsored plans has risen from 2023 to 2024. In 2023, the average annual premium was $8,435 for single coverage, and $23,968 for family coverage.
Marking a 7% increase. To put this in perspective, over the five year period from 2018 to 2023, premiums increased by 22%. Employee contributions rose by 19% and inflation climbed 21% all while workers earnings only grew by 27%.
Do you have questions about your overall rate increases? Call me. Let’s talk benefits.
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