Health insurance costs rise faster than pay in New York

October

Health insurance costs are eating up more and more of the family budget, according to a new study.

Family health care premiums rose an estimated 7.3 times faster than earnings for New Yorkâ€™s workers from 2000 to 2007, according to a report by the consumer health organization “Families USA”:http://www.familiesusa.org/assets/pdfs/premiums-vs-paychecks-2008/new-york.pdf.In that eight-year period, family health care premiums rose by 80.7 percent while median earnings rose by only 11 percent.The report found:

For family health coverage provided through the workplace in New York, annual health insurance premiums in the 2000-2007 period rose from $7,090 to $12,812â€”an increase of $5,722, or 80.7 percent.
Between 2000 and 2007, the median earnings of New Yorkâ€™s workers increased from $28,153 to $31,263â€”an increase of $3,110, or 11 percent.

This entry was posted on Friday, October 24th, 2008 at 9:29 am by Jane Lerner. Print This Post | Email This Post

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