Employers probably already know that health care costs grow faster than any other expense they have, but now the nonprofit Families USA has quantified it.
According to the group’s study, Floridians’ health insurance premiums have grown at 3.7 times the rate of average earnings since 2000.
The study found that in 2000, the average annual family health premium in Florida was $6,812. By the beginning of 2009, that figure had mushroomed to $13,497, a growth rate of 98.1%. In 2000, the average Floridian earned $22,753. That figure rose to just $28,836 by 2009— a 26.7% increase.
The premium hikes hit employees harder than employers. The amount workers paid for health insurance rose 138.6% from 2000 to 2009, while employer costs went up 81.7%.