The cost of getting your health insurance through work will go up an average of 5 percent next year, according to a new survey of large employers by the National Business Group on Health.
The cost for employers will go up 6 percent. This is the third consecutive year that employers’ health costs have risen by 6 percent. While that’s still more six times the current rate of inflation, it’s likely a smaller increase than will be experienced by consumers who purchase insurance through the public exchanges.
While those plans vary widely by state, the average plan is expected to cost 10 percent more in 2017, according to Kaiser. Last year, the price of the average silver level plan on public exchanges increased 12 percent.
For employers, the biggest driver of the cost increases is the price of specialty drugs. Other factors included high-cost claims and long-term conditions, according to the NGBH survey.
HENRY KOTULA 