In 2019, the cost of healthcare for a hypothetical American family of four covered by an average employer-sponsored preferred provider organization (PPO) plan is $28,386, according to the Milliman Medical Index
– Healthcare costs are increasing at a slower rate estimate costs grew by 2.9% from 2017 to 2018, and then 3.8% from 2018 to 2019.
– Prescription drug costs for the family increased by approximately 4.5% from 2017 to 2018, and then by 2.1% from 2018 to 2019.
– Employer costs increase more than employee costs… The healthcare costs highlighted in the MMI are funded by employer contributions to health plans, and by employees through their payroll deductions and out-of-pocket expenses incurred when care is received. From 2017 to 2018 employer contributions increasing by 5.1% and employee cost growing by 1%. From 2018 to 2019, employer versus employee contribution rates has grown at similar rates, 3.6% versus 4.0%, respectively.