Average Health Care Deductible Nearly $1,500 for Individual Coverage Through an Employer Plan
With open enrollment season here, health insurance--and its costs--are hot topics among employees across the country. A new report released today,
The report, conducted by the nonprofit
Looking more closely at the findings, of those who have single coverage health insurance:
* 7 percent have no deductible
* 16 percent have a deductible under
* 19 percent have a deductible between
* 46 percent have a deductible between
* 6 percent have a deductible between
* 6 percent have a deductible that is
Of those who have family health care coverage:
* 7 percent have no deductible
* 3 percent have a deductible under
* 11 percent have a deductible between
* 29 percent have a deductible between
* 26 percent have a deductible between
* 23 percent have a deductible of
As expected, deductible amounts vary based on the type of plan an employee is enrolled in. Employees in a more traditional, non-high-deductible plan average deductibles of
The report also found that the average share of the health care premium paid by an employee--23 percent for single coverage and 31 percent for family coverage--is holding steady, with an increase of less than 1 percent over the previous four years. A premium is the amount paid each month to maintain health care insurance, and the cost is usually shared by the employee and employer.
"Health care open enrollment can be a stressful time for employees. They want to choose the right plan for their situation, but the stakes are high because the choice will have a direct impact on their wallet," explained
Employers are offering a wide variety of plan types for employees and often offer more than one type of plan. The most common type is a preferred provider organization (PPO), offered by 73 percent of employers. High-deductible health plans (HDHP) with a health savings account (HSA) continue to grow in prevalence--59 percent of employers report they offer an HDHP with an HSA, up from 46 percent in 2014. Just over a quarter of employers, 26 percent, offer a health maintenance organization (HMO) plan.
"With nearly three in five employers now offering high-deductible health plans, employees need to take the time to fully understand these types of plans," explained Stich. "HDHPs involve lower premiums but higher deductibles, so individuals need to take a look at both their financial situation and their health needs for the upcoming year in determining which plan is best for them."
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