U.S. health insurance premiums have climbed faster than wages and inflation this year, and look poised to accelerate in 2013, adding to voter concerns about soaring health-care costs ahead of November elections.It's important to remember that employer-provided health insurance is an artifact, and a perverse result, of wage and price laws enacted during World War II. We're still living with the unintended consequences of that government intervention in the market.
A study released on Tuesday showed premiums for employer-sponsored health plans, which cover about 149 million Americans, grew a modest 4 percent to $15,745 in 2012. It was a substantially slower rate of growth than in past years, including 2011, when premiums jumped 9 percent.
But the study's authors at the nonpartisan Kaiser Family Foundation and the Health Research and Educational Trust, said higher costs still took a bigger bite from the income of middle-class employees, whose wages advanced only 1.7 percent, as employers shifted more health-care costs to their workers.
Tuesday, September 11, 2012
I Thought This Wasn't Supposed to Happen
According to CNBC: