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Wednesday April 23rd 2014

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Employer Health Premiums Rose 170% in California in Last Decade

lungscreeningPremiums for employer health insurance in California jumped 170% over the last decade, more than five times the 32% increase in the state’s inflation rate. That escalation in premiums has taken a toll on employers’ willingness to offer health benefits, according to an annual survey by the California HealthCare Foundation. The report found that 60% of California firms offered health benefits last year, down from 73% three years ago. As costs keep climbing, many businesses are asking workers to contribute more toward their health insurance or accept fewer benefits. More than a third of the firms surveyed said they are likely to increase workers’ share of premiums in the next year, and 24% plan to raise employees’ deductibles according to a recent report in the Los Angeles Times.