Family healthcare premiums rose an estimated 17.1 times faster than earnings for Michigan’s workers from 2000 to 2007, according to a report issued Oct. 2 by the consumer health organization Families USA. In that eight-year period, family healthcare premiums rose by 78.2 percent, while median earnings rose by only 4.6 percent.
According to the report, the disproportionately high increases in insurance premiums occurred despite the provision of “thinner coverage” to workers--coverage that offers fewer benefits and/or that comes with higher deductibles, copayments, and co-insurance.
The Families USA report, Premiums versus Paychecks, is based on data from the U.S. Census Bureau, the Department of Labor, and the Department of Health and Human Services. State-specific reports are being released September through October 2008. Access the reports.