Health premiums skyrocket for employers over eight-year period

Posted on: Tuesday, December 18, 2012

If rising employer-based premiums serve as an indication for how robust agents' health insurance leads will be, a new report suggests they may be in for a significant windfall.

According to a new report from the Commonwealth Fund, employer-provided health insurance premiums have dramatically risen in price, jumping nearly 65 percent between 2003 and 2011. The premiums that companies pay also increased, up 7 percent over the same eight-year period.

Cathy Schoen, senior vice president of the Commonwealth Fund, indicated that health premiums are on the rise virtually everywhere.

"Wherever you live in the United States, health insurance is expensive, and for many middle- as well as low-income families it is becoming ever less affordable," said Schoen. "Workers are paying more for less financial protection when they get sick."

She added that the Affordable Care Act should hopefully help diminish health insurance expenses for the average consumer.

Not everyone is sure this will come to pass, though. Only 15 states have indicated they will run their own health insurance exchanges in light of the health reform law. State officals who have refused to implement these exchanges say that the program is too cost-prohibitive, leaving the federal government in charge of its function.

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