The average annual premium for employer-sponsored health insurance this year increased by 7% for single coverage and family coverage, reaching $8,435 and $23,968, respectively, according to the KFF Employer Health Benefits Survey. The report, released on Oct. 18, noted that workers’ wages increased by 5.2% and inflation rose by 5.8% in 2023. The average annual increase last year was 2% for single coverage and 1% for family coverage. Just over 50% of the U.S.’s insured population is enrolled in employer-sponsored coverage, with 52,737,834 people enrolled in group risk-based plans, and 121,687,554 in self-funded products.
Source: AIS’s Directory of Health Plans