It’s no coincidence that the cost of health insurance has far outpaced the consumer price index while the government has steadily increased its role in the medical system. From Wolf Richter at wolfstreet.com:
Something is seriously wrong with this system.
The annual cost of the average health insurance family plan through employers — employer and employee contributions combined – rose another 4.9% in 2019, to $20,576. This is up 255% from 20 years ago, having soared five times faster than the Consumer Price Index (+52%).
Employees paid about 29% of the premium for family coverage ($6,015 annually, red portion) and employers paid about 71% ($14,561 annually, blue portion). Over the past 20 years, the employee contribution has increased by 290%.
