Health Care Premiums Rose 5.3 Times Faster than Earnings in North Carolina
Thursday, September 25th, 2008
By Staff
Throughout the first eight years of the new millennium, health care costs have skyrocketed, while working families’ wages have stood still, putting a significant strain on family budgets. Families USA released a report examining what these trends mean for working families.
For family health coverage provided through the workplace in North Carolina, annual health insurance premiums in the 2000-2007 period rose from $6,649 to $11,618—an increase of $4,969, or 74.7 percent. Between 2000 and 2007, the median earnings of North Carolina’s workers increased from $23,080 to $26,316—an increase of $3,236, or 14 percent.
According to the report, the disproportionately high increases in insurance premiums occurred despite the provision of “thinner coverage” to workers—coverage that offers fewer benefits and/or that comes with higher deductibles, copayments, and co-insurance. As a result, North Carolina families are paying more but receiving less in health coverage.
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