Employers' Health Care Costs Have Nearly Doubled

min read
rising-health-care.jpgThe U.S. Department of Health and Human Services today released a report about the rising cost of health care. Among its conclusions: "Employer-sponsored health insurance premiums have nearly doubled since 2000."

That increase in health care costs grew three times as fast as wage growth and cost employers' $12,680 for the average family plan -- nearly the same as a minimum wage salary for one year, according to the HHS.

In a news conference today President Barack Obama addressed the issue, expressing support for reform that's being considered in Congress. "We need to control the skyrocketing costs that are driving families, businesses and our government into greater and greater debt," he said.

The HHS report stated that family deductibles increased 30 percent in two years for average preferred provider (PPO) plans; for families covered by "small firms" the increase was 64 percent, from $1,439 to $2,367.

"It doesn't matter if you have insurance or not," states HHS Secretary Kathleen Sebelius, "when Americans go to the hospital or the doctor's office, they are paying more and getting less."

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.