Rising Healthcare Insurance Cost
Survey shows rising health insurance costs
A recent survey of 3017 randomly selected public and private companies revealed that the cost of health insurance provided by employers rose 11.2% in 2004. Costs are expected to rise again in 2005, according to the survey conducted by the Kaiser Family Foundation.
The survey also found that employees contributed an average of $558 to the total annual insurance cost of $3,695 for single coverage and $2,661 to the $9,950 cost for family coverage.
Companies are trying to find ways to contain health insurance costs, including providing incentives to their workers to stay healthy. Wellness programs, financial rewards or prizes for exercising, eating right, and getting checkups are some of the methods employers use to keep workers healthier and health costs down.