In the first entry in a series for STAT News, “Out of Pocket, Out of Reach,” reporter Bob Herman showed that since 1987, the cost of health insurance for employers and workers has risen by 979% while overall inflation in that time rose by 176%, an increase of more than 450%. Such huge increases are harming workers and businesses of all sizes, as his reporting demonstrates.
About 80% of companies with fewer than 200 workers offered health insurance in the late 1990s, he reported, while only 59% do so today. Instead, workers are steered toward the Affordable Care Act Marketplace, where they pay higher premiums than ever. Mid-sized and large employers cut staff when health insurance costs rise. When employers cut staff, communities suffer as unemployment rises, leading to suicides and drug and alcohol abuse, researchers have reported.
Join Bob Herman and Joe Burns, AHCJ’s Health Beat Leader for Health Policy and Insurance, for a conversation and Q&A about a topic that applies to every town, city and state as small businesses struggle with rising insurance costs and employees face daunting financial decisions.