12/21/2006

Growth in Health Premiums Outpaces Earnings

Health care premiums grew about six times faster than earnings for Wyoming workers from 2000 to 2006, according to a report issued Monday by a consumer group.

Families USA found that annual premiums for family health care coverage offered through the workplace in Wyoming increased on average from $5,605 in 2000 to $12,274 in 2006, an increase of $6,669 or 119 percent.

During the same period, median earnings of Wyoming workers increased from $20,765 in 2000 to $24,646 in 2006, an increase of 18.7 percent.

According to the organization's report, fast-rising health care costs are causing increasing numbers of people to go into debt.

"If this troubling trend continues, the health care affordability crisis will get much worse and many more Wyomingites will become uninsured and underinsured," Ron Pollack, Families USA executive director, said in a statement. "If earnings continue to lag behind fast-rising health care costs, Wyomingites will face diminishing economic and health security."

The analysis found the high increases in insurance premiums came as many health plans offer fewer benefits along with higher deductibles, co-payments and coinsurance. The data was collected from the Census Bureau, the Labor Department and the Health and Human Services Department.

The Families USA report said the result is a growing number of Wyoming families joining the ranks of uninsured and underinsured. It said the number of non-elderly uninsured people in Wyoming is estimated at more than 75,000, about 17 percent of the state's non-elderly population.

Source: Insurance Journal 12/20/2006

5 comments:

Dr. Polly Anna said...

This Reality Based Blogging is really a drag. I'm switching to the Faith based Econo-Fantasy Blog Channel - OTBL . Over there I can read about the booming economy, how everyone's going to be a millionaire and how nobody pays any taxes.

A Rising Tide said...

That's what you get for patronizing this socialist scum slum. Everybody can't have a piece of the pie. Someone's got to same in the ktice=hen and wash the dishes for minimum wage.

Gilligan said...

Rising Tide,

How 'bout sailing that yacht of yours into the next tsunami!

Professor said...

Speaking of yachts...

I was at the foot doctor last week and reading the Yacthing mag in his office. They had gift ideas for the holidays and one was a $1,500 pen.

Being a Bic man myself, I was wondering who the hell would pay that kind of money for a friggin pen. Then I turned the page and was looking at used yacths for $22.5 million. It suddenly became clear to me...

Gilligan said...

Professor,

If you do a little internet Yachting research, you'll find that 22.5 Million may have been in the Wal-Mart section of the
Yachting World.
Now this is a real Yacht.
http://tinyurl.com/k4mxb