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What rising health care costs mean for clients and employees

Health care costs are soaring, forcing employees and their families to make serious financial trade-offs to afford treatment. The average premium for family coverage has increased 22% over the last five years and 47% over the last 10.1 Your clients carry part of the cost of company-sponsored health coverage, so they’re feeling the impact, too. In 2021, the average annual premiums for employer-sponsored health insurance for family coverage is a little over $22,000.2

scale icon with $5,588 vs air conditioner, vacation and clothes

The average price an employee paid for a family health plan in 2021 was $5,969.1

That’s more than the average cost of:
A vacation for a family of four ($4,580).2
Replacing central air conditioning ($5,180).3
Groceries for feeding a family at home ($4,942).4

scale icon with $1,644 vs home, refrigerator and wedding gown

The average health care deductible for one person was 1,669.

That’s more than the average cost of:
A 30-year monthly mortgage payment ($1,275).5
Buying and installing a refrigerator ($1,500).6
The cost of a wedding gown ($1,600).7
And more than most can likely afford
46% of employees say they would not be able to pay more than $1,000 in out-of-pocket medical costs.8

It’s not just employees who feel the pressure. Employers feel it, too.

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83% on average, of a covered employee’s premium and 72% of an employee’s family coverage premium is covered by the employer1

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$22,221 was the average employerpaid portion of a family health care plan in 2021.1

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74% of employers made operating changes because of health care costs.8

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60% of employers experienced an increase in benefits costs in the past year.8

Aflac can help your clients and their employees better cope with rising health care costs. Talk with your Aflac representative to learn more.