Health Insurance Premiums for Families Over $25K 

By Consumers for Quality Care, on October 30, 2024

The average cost of health insurance for employer-based family plans jumped seven percent in 2024 to $25,572, according to a new KFF health benefits survey and reported by Axios.  

In addition to high premiums, most workers (87 percent) must also contend with annual deductibles, having to pay large sums out-of-pocket for their care before insurance starts to cover costs. For single-coverage plans, deductibles averaged more than $1,700. For workers at small companies, deductibles were even higher, averaging $2,575. For family plans, deductibles varied widely, from $1,500 all the way to nearly $5,000.  

As deductibles and other out-of-pocket expenses increase, the cost of health care is becoming prohibitively expensive for many Americans, including those with health insurance. As a result, some are forced to choose between delaying the care they need and accumulating massive amounts of medical debt. Data like these show that consumers desperately need common-sense health care reforms. CQC urges lawmakers to implement consumer-friendly policies that decrease costs and increase access to health care.