Posted: Mar 30th, 2017
Employers likely to begin increasing employees’ premium contributions
According to a report released today by the California Health Care Foundation, in a recent survey, 27% of California firms said they were very or somewhat likely in increase employees’ premium contribution in the next year.
Other key findings include:
- Health insurance premiums for family coverage grew by 5.6%. Family coverage premiums have seen a cumulative 234% increase since 2002, compared to a 40% increase in the overall inflation rate.
- The average monthly health insurance premium, including the employer contribution, was $597 for single coverage and $1,634 for family coverage in California, and was significantly higher than the national average.
- 41% of workers in small firms faced an annual deductible of at least $1,000 for single coverage, compared to 17% of workers in larger firms. The prevalence of these higher deductibles in small firms has increased substantially in the past five years.
- Only one in four firms with many low-wage workers (those earning $23,000 or less) offered health coverage to employees in 2016.
- In the past year, 24% of large firms extended eligibility for health benefits to workers not previously eligible.