Health insurance provided by companies is becoming more and more expensive, especially in Texas, according to a new report from The Commonwealth Fund. Representatives from Blue Cross Blue Shield and UnitedHealthcare attribute the rising healthcare costs in Texas to the rising cost of healthcare overall.
Below are some quick facts taken from this article in the Houston Chronicle, based on the report.
Premiums for Texas families have risen 53% since just 2003
Premiums for individuals in Texas have risen 46% since 2003
Both group’s deductibles more than doubled in that time period
Costs in Texas are rising faster than the national average
Employer premiums now account for at least 20 percent of the average household incomes of people under 65 in a majority of states
Healthcare costs are rising two to three times faster than inflation in Texas
Average cost of employee-sponsored insurance for Texas families was $14,526 in 2010
Average premiums will rise by 72 percent by 2020 if current trends are not slowed