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Workers' Healthcare Costs Skyrocketing Under Obamacare

Workers' Healthcare Costs Skyrocketing Under Obamacare
(Photo credit Karen Bleier/AFP/Getty Images)

By    |   Thursday, 12 November 2015 09:56 AM EST

Despite company healthcare costs rising at the lowest rate in at least 20 years, a new report shows that the average amount workers have to contribute toward their healthcare is up more than 134 percent over the past decade, USA Today reports.

"Our clients say, 'I can't keep paying more and more of these ever-rising health costs,'" said Craig Dolezal, a senior vice president of Aon's health practice.

According to USA Today, the reports show that in 2015 employees on average contributed $2,490 toward premiums and another $2,208 in out-of-pocket costs — which in large part comes from the "Cadillac tax" that takes effect in 2018.

This is a big difference from 2005 when the amount of employees' premium and out-of-pocket costs combined was just $2,001.

"No question change is afoot and the excise tax is a catalyst for change," Randall Abbott, a senior strategist in consulting firm Towers Watson's health and group benefits practice, told USA Today.

Mike Morrow, also a senior vice president of Aon's health practice, added, "It's a good time with cost pressure low to not be complacent … We need to do what we can to drive the right behavior so employees are making good decisions when costs increase as they inevitably will."

USA Today reports that Towers Watson did its own analysis of businesses' health costs last month and the results pose a big concern for groups representing chronically ill patients.

The analysis found that about 53 percent of employers already restrict coverage of specialty drugs and 32 percent more are expected to do so by 2018.

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Despite company healthcare costs rising at the lowest rate in at least 20 years, a new report shows that the average amount workers have to contribute toward their healthcare is up more than 134 percent over the past decade, USA Today reports.
workers, healthcare, costs, skyrocketing, obamacare
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2015-56-12
Thursday, 12 November 2015 09:56 AM
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