Average Health Insurance Premium Increase by Year: A Decade of Changes

The average health insurance premium has been on a steady rise over the past decade. According to data, the average annual premium increase has been 5.2% from 2013 to 2014.

From 2014 to 2015, the average annual premium increase jumped to 7.3%. This significant increase can be attributed to various factors, including rising healthcare costs and changes in the Affordable Care Act.

The average annual premium increase continued to rise, reaching 8.2% from 2015 to 2016. This trend shows no signs of slowing down, with the average annual premium increase reaching 9.2% from 2016 to 2017.

The data suggests that the average annual premium increase has been steadily increasing over the past decade, with no signs of slowing down.

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Employers are predicting an average increase of as much as 9 percent in health care costs next year, but are generally avoiding passing along much of that to their employees.

Workers contribute about a quarter of the average $25,572 annual family premium, or about $6,300.

A tight job market has led employers to assume much of the cost increases, with employers seeing the total annual cost of premiums for family coverage rise 24 percent over the past five years.

In recent years, employers have kept a lid on premium increases, with employees paying 5 percent more, or less than $300 on average, while employers absorbed the rest of the increase.

The average cost of employer-provided family coverage is nearly $25,572 a year, and workers pay about a quarter of that amount.

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In 2016, the Affordable Care Act (ACA) was still in effect, but changes were already underway. Premiums for individual health insurance plans increased by an average of 11% nationwide.

Many insurers were struggling to stay afloat due to the law's requirements and the influx of new customers. This led to a significant decrease in the number of participating carriers in some states.

The average premium increase was higher in some states, such as Arizona, where it reached 29%.

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In 2015, the Affordable Care Act's (ACA) individual market premium increase was 10% on average, but some states saw rates jump by as much as 30%.

The ACA's risk corridor program was designed to help insurers cover losses, but it was underfunded, leaving many insurers with large bills to pay.

Insurers like UnitedHealthcare and Aetna announced they would be leaving the individual market in several states due to significant losses.

The ACA's individual mandate, requiring most Americans to have health insurance or face a penalty, was in effect during this time.

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In 2014 to 2015, a nationwide decrease of 0.2 percent in health insurance premiums was observed on the exchanges.

PricewaterhouseCoopers analyzed the benchmark plans offered on the exchanges and found that the state-by-state changes ranged from a 26 percent increase in Alaska to a 26 percent decrease in Mississippi.

The changes in premiums varied significantly from state to state, with some states experiencing a significant decrease in premiums while others saw a notable increase.

Here's a breakdown of the state-by-state changes in premiums:

Note that these changes are based on the analysis of PricewaterhouseCoopers and may not reflect the actual premium increases or decreases experienced by individuals or families.

In 2013, the Affordable Care Act (ACA) was still in its early stages, but the effects on health insurance premiums were already being felt.

The average health insurance premium increase for a 40-year-old non-smoker was around 9% in 2013, according to the article.

As a result, many people were facing higher costs for their health insurance, which was a major concern for those who were already struggling to make ends meet.

The article notes that the average monthly premium for a 40-year-old non-smoker was around $350 in 2013.

In 2014, the situation didn't improve much, with the average health insurance premium increase still hovering around 10%.

The article highlights that the premium increase was not just limited to one age group, but affected people across different age brackets.

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The average cost of employer-provided family coverage in this state is nearly $15,000 a year, and on the individual market, it's a staggering $24,000 a year.

This is almost double what it was 10 years ago, and among the highest in the country.

The state Legislature recently restored the power of state regulators to reject or lower premium increases, which is a step in the right direction.

Rate increases affecting about three million people with individually purchased or small-group coverage have been applied for, with some as high as 56%.

For another approach, see: State Based Health Insurance Exchange