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US family health premiums hit record high
Average US family health premium rose $1,303 YoY to a record $28,303, far outpacing CPI.
Key points
- The average annual family health insurance premium in the US rose +$1,303 YoY, or +5%, to a record $28,303.
- This is the 4th consecutive annual increase of at least +$1,300, bringing the average annual premium for family coverage up +$5,884, or +26%, over that period.
- Since 1999, the average family health insurance premium has risen +$22,494, or +387%, an average annual growth rate of +6.1% versus CPI inflation at +2.6% over the same period.
- Over the same period as the recent increase, CPI inflation rose +13%, about half as much.
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Original post
BREAKING: The average cost of a family’s annual health insurance premium in the US is up +$1,303 YoY, or +5%, to a record $28,303.
This marks the 4th consecutive annual increase of at least +$1,300.
Over this period, the average annual premium for family coverage has surged +$5,884, or +26%.
To put this into perspective, CPI inflation has risen +13% over the same period, or half as much.
Since 1999, the average health insurance premium for a family has soared +$22,494, or +387%.
This represents an average annual growth rate of +6.1%, well above CPI inflation at +2.6% over the same period.
Health insurance has never been more expensive.
Top replies on X
Reaction on X: Replies are overwhelmingly critical, calling health insurance a scam and blaming government involvement and insurers' profits. One self-employed commenter says he pays the full $46,000 annual BCBS premium for a family of 4 himself, and another says the money comes out of raises employees never got.
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From @RossGivens_, @justusclark_, @clubhighflyers and others. Spam removed, with English and Chinese translations.
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