Health Care Costs Will Exceed Average Household Income By 2030

Source: Business Insider

Health care costs will exceed the average household income by 2030, according to a recent study published in the Annals of Family Medicine.

In 2005, authors Noelia de la Cruz / Richard A. Young and Jennifer E. DeVoe reported health insurance would equal median household income by 2025.

However, they have since adjusted their estimates to reflect the recession and the passage of the Affordable Care Act—both of which decreased health care spending, they say.

They determined the figures using the average growth rates of insurance premiums (8.0 percent) and household incomes (2.1 percent) between 2000 and 2009. Thirty-six percent of employers increased the share their employees pay for their insurance premiums—up from 22 percent in 2009.

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