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

Nov 21, 2019

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.