The Department of Health and Human Services released a report today that shows premiums have doubled for individual health insurance plans since 2013.
The study specifically looked at the increase in cost from 2013, and suggests that the rise in premiums can be linked to Affordable Care Act regulations and mandates, which were to be fully implemented by 2013. Since then, all 39 states using the Healthcare.gov exchange saw an increase in premiums.
HHS National Spokesperson, Alleigh Marré, stated that Americans are now paying, “$3,000 more for health insurance per year,” and that “The status quo is unsustainable.”
Average monthly premiums increased from $232 to $476 over this time frame. This cost eats into an extra 10% of the monthly budget for a family on the poverty line (5 person household: $24,600 annually), and that 10% only represents the increase over the past 4 years in healthcare costs.
This report shows clearly that the status quo in healthcare is statistically leading to higher costs for average Americans across the country and is not sustainable. Concerned patients should keep on eye on their premiums in the years to come and push for better solutions for everyone.