If right wing radio demagogues and insurance industry lobbyists succeed in killing health care legislation, the average employer-sponsored premium for family coverage could rise from $12,298 in 2008 to $23,842 by 2020, according to a new study by the longtime charity organization, The Commonwealth Fund.
However, if leaders were able to slow premium growth by one percentage point in each state, the report shows employers and families would save an average $2,571 per premium for family coverage by 2020. And, if growth could be slowed even more by 1.5 percentage points, yearly savings would equal $3,759.
Commonwealth Senior Vice President Cathy Shoen says the projected increase will be inevitably passed on to workers and continue to eat away at middle-class incomes. “With health spending projected to double if we stay on our current path, middle- and lower-income families are at high risk of losing their coverage or facing long-term stagnant incomes,” says Shoen. “Employers and employees share premium costs, but we know that take-home pay and retirement savings are being sacrificed to maintain health benefits. Reforms that slow the growth of health-care costs could go a long way toward health and financial stability for working families.”
