|
|
|
NetQuote works with
the nations top insurers.
“I am saving enough money to more easily pay student loans on a teacher's salary. Thanks NetQuote.”
– Claudia S., Indiana |
|
|
- Health Insurance
- News
- Reports: Growth in insurance premiums outpacing paycheck growth in four states
Reports: Growth in insurance premiums outpacing paycheck growth in four states
The growth in health insurance premiums from 2000 to 2009 are significantly outpacing the growth of paychecks in four states, according to recent reports from Families USA.
The growth in health insurance premiums from 2000 to 2009 are significantly outpacing the growth of paychecks in four states, according to recent reports from Families USA.
The states - Connecticut, Maine, North Dakota, and Florida - were singled out by the organization for having premiums that rose between 2.7 to 7.4 times the rate of increase for paychecks in the states.
Connecticut saw the largest deficit between the rise in premiums and paychecks, with the former rising 7.4 times quicker than the latter. While the average annual premium payment increased from $7,292 to $14,282 for a 95.9 percent increase, the median earnings of workers in the state only rose from $32,106 to $36,276, or 13 percent.
Maine was the second hardest state hit, with premiums rising 4.6 times quicker than paychecks. While premiums rose 101.4 percent ($6,915 to $13,927), median workers' earnings only rose 22.1 percent ($22,163 to $27,063). Florida’s premiums rose 3.7 times quicker than paychecks, with insurance premiums increasing 98.1 percent ($6,812 to $13,497) while the median earnings rose 26.7 percent ($22,753 to $28,836).
North Dakota was the fourth hardest hit, with premiums outpacing paychecks 2.7 times over. While premiums rose 94 percent from $6,124 to $11,882, median earnings only rose 35.2 percent from $19,196 to $25,945, or 35.2 percent (Table 3).
According to the Maine Public Broadcasting Network, State 1st District Congresswoman Chellie Pingree cited the data as evidence that health care reform was needed and said that cheaper costs would be "the biggest boost to the Maine economy than anything we could possibly do."
Learn how easy and convenient shopping for health insurance can be. Get your free health insurance quotes today!
Posted: August 13, 2009
Related Health Insurance Articles
- Health insurance terms see rise in interest on web amid recession, health care debate August 12, 2009
- Unnecessary costs contribute to price of health insurance August 11, 2009
- Should unhealthy people pay more for benefits? August 10, 2009
- Voluntary insurance benefits make it easier to cover a workforce diverse in age August 7, 2009
- How to properly adjust insurance benefits with a baby on the way August 4, 2009
- Government: Healthy living can hold down health insurance costs July 30, 2009
- Rising costs result in less workplace health insurance July 27, 2009
- Obesity a major factor in healthcare costs July 27, 2009
- Consumers can find health insurance search difficult July 23, 2009
- Younger workers advised on seeking health insurance July 23, 2009
|
|
