Health insurance costs skyrocket in 2011

The cost of employer-sponsored health insurance surged this year, snapping a trend toward moderate growth, but experts say these increases may slow again in 2012. Annual premiums for family coverage climbed 9% and surpassed $15,000 for the first time, according to a report released today by the Kaiser Family Foundation and the Health Research and Educational Trust. Premiums for single coverage rose 8% compared to 2010. Increases last year were 3% and 5% over 2009 costs for family and single coverage, respectively. The study shows premiums for both family and single coverage have more than doubled since 2001, while worker wages have risen 34%. Kaiser CEO Drew Altman says a number of factors may have played a role in this year’s percentage jump. He notes health care costs continue to rise, and says insurer profits and the health care overhaul also have some impact. The annual study was conducted earlier this year and includes results from more than 2,000 companies nationwide. Read a longer story on the study by The Associated Press here. An eight-page summary of the study’s findings can be found here. And if the full 225-page study is what you’re after, it can be found here.