Medical insurance rates in America If you work for a large company, the cost of health insurance may be equal to the cost of a new car. According to a September 29, 2019 study by the Kaiser Family Foundation (KFF) on health benefits for business owners, it has been found that:
Prices of health insurance companies in America
The average annual health insurance premium for a family of four is $20,576, which is roughly the price of a 2019 Honda Civic. On average, families pay about $6,015 of this cost, which means business owners account for 71% of the premium.
Business owners pay a premium of $7,188 per employee, while the employee pays $1,242, or 18% of the premium. The average cost of an insurance plan includes all types of insurance plans available, such as:
- Healthcare organization plans.
- Service point plans.
- Highly discounted health plans with savings options.
The most popular is the provider's preferred insurance plan, offering 44% coverage for employees, followed by higher-deductible health plans with savings options such as a health savings account that offers 30% coverage for employees.
Of course, how much employers spend on their employees' health insurance affects their earnings, so employees bear the burden of paying contributions more than the numbers show. In fact, the high cost of health insurance is one reason why wages have not increased significantly over the past two decades.
Health insurance in America
At the same time, employees must pay premiums from pre-tax income, but their insurance burden may be lower than those insured in federal health insurance markets or state health insurance exchanges.
The health care system in the United States
Health insurance is based on the principle of collecting the risks of costs of illness affecting a certain group of people and sharing those costs equally among them, as stipulated in the new health insurance law in America.
And that is by collecting the necessary and necessary funds to confront all these threats and distributing them to people according to their need for treatment.
Thus, health insurance prevents people from paying for treatment and ensures that health care reaches them for a certain amount.