Consumers should protect all of their major purchases
The average American family of four with employer-provided health coverage can face more than $11,000 in monthly premiums and out-of-pocket costs per year.i Considering 65% of people have less than $1,000 to pay out-of-pocket expenses associated with an unexpected serious illness or accident,ii it makes sense to protect your wallet the same as you do your home or vehicle.
Continental American Insurance Company (CAIC), a proud member of the Aflac family of insurers, is a wholly-owned subsidiary of Aflac Incorporated and underwrites group coverage. Individual coverage is underwritten by American Family Life Assurance Company of Columbus. Continental American Insurance Company Columbia, South Carolina
i Girod, Christopher S., Weltz, Scott A, Hart, Susan K. 2016 Milliman Medical Index: Healthcare costs for the typical American family will exceed $25,000 in 2016. Who cooked up this expensive recipe? May 2016. For the typical family of four’s $25,826 in total spending, the employee pays $6,717 through payroll deduction and $4,316 in out-of-pocket expenses incurred at time of service.
iiThe 2016 Aflac WorkForces Report is the sixth annual Aflac study examining benefits trends and attitudes. The study, conducted by Lightspeed/GMI on behalf of Aflac, captures responses from 1,500 employers and 5,000 employees across the U.S. To learn more, visit AflacWorkForcesReport.com.