Health insurance premiums are on the rise, with the average premium for family coverage increasing by 24% over the last five years, compared to a 28% increase in workers’ wages and inflation of 23%, according to data from KFF.
“We’re in this vicious cycle where costs are rising, [employers] are shifting them to the worker, which prevents them from getting care or accessing the system, which leads to longer-term, worse healthcare needs,” Ashok Subramanian, co-founder and CEO of Centivo, a health plan provider for self-funded employers, told EBN. “You’re catching cancer later, diabetes is going unchecked, and then costs go up. Employers need to look for solutions they haven’t considered in the past.”
