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Good News: Your Job Offers Health Insurance. Bad News: It’s Unaffordable, Study Says

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The Commonwealth Fund
A new report by The Commonwealth Fund found that in 42 states, premiums and deductibles for employer provided health insurance equaled 10 percent or more of the median income, compared to only seven states in 2008.

Americans who get health insurance through their employers are finding their coverage unaffordable as out-of-pocket expenses have outpaced earnings over the past decade, according to a new study, which shows Floridians were especially hard hit.

Florida was one of the nine most expensive states for premium contributions, which equated to 8% or more of the median income in 2018, according to a study released Thursday by the Commonwealth Fund, a New York-based nonprofit that advocates for expanded health insurance coverage.

The Sunshine State was also among the five most expensive states for the combined costs of premiums and deductibles last year — 14% or more of median income. Premiums are fixed costs that healthcare consumers pay every month, while deductibles represent the amount a consumer must pay before his or her health insurance kicks in.

Read more at our news partner the Miami Herald.