(the) Health Savings Accounts Blog

According to recent reports, employees are paying an average of $3,354 in premiums for family coverage, more than double the amount they paid in 1999. The total cost for family coverage now averages $12,680 a year, up 5 percent from 2007.  Needless to say, these costs are making it more and more difficult for the average Joe to keep up with the cost of health care coverage.

As the New York Times article states:

Virtually all large employers offered coverage, but only 62 percent of small companies did. People working for big companies were also paying less — about $3,000 a year for family coverage — compared with $4,100 for those in small companies.

Faced with the choice of dropping coverage altogether, many small companies have opted for health plans that ask employees to pay much more in the form of deductibles and out-of-pocket expenses. One in three workers in small businesses has annual deductibles of $1,000 or more, in contrast to one in five in the previous year’s survey.

The article jumps to the conclusion that government intervention is closer than we may think.

COMMENT:
Typical left-wing perspective from the Times, but the numbers don’t lie either. As more and more small companies are dropping coverage all together, they are opting for individual coverage. And all individuals who are taxpayers are eligible for health savings account plans.

These plans can save a bundle, especially when the employer sponsors a health reimbursement plan. Ask us for more details.