Just how much is the annual cost of health care for a family of four? Enough to pay for a year of tuition at an in-state college or buy a midsize sedan.
According to the 2013 Milliman Medical Index, annual health costs of a typical family of four through an employer-sponsored preferred provider organization rose 6.3 percent to $22,030 in 2013.
In 2012, the cost was $20,728, the first time those costs exceeded $20,000.
Of the $22,030 health care cost for a family of four, the employer pays about $12,886 while the employee pays the remaining $9,144, which is a combination of $5,544 in payroll deductions and $3,600 in employee out-of-pocket costs.
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Though this year’s increase is less than increases seen in previous years, it’s still a notable jump in price for families and employees. Families have seen a larger percentage increase in costs than employers, the consulting and acturial firm said.