By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    physical health
    5 Ways Playing Games Can Improve Neural and Physical Health
    September 9, 2022
    Reasons For Hair Loss and Its Treatment
    Reasons For Hair Loss and Its Treatment
    February 16, 2022
    healthcare organization
    5 Actionable Strategies For Healthcare Organizations
    August 15, 2022
    Latest News
    7 Most Common Healthcare Accreditation Programs: Which Should You Use?
    August 20, 2025
    Hospital Pest Control and the Fight Against Superbugs
    August 20, 2025
    Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
    August 13, 2025
    5 Steps to a Promising Career as a Healthcare Administrator
    August 3, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    4 Reasons Chris Cornell’s Death Raises Medical Ethics Questions
    December 19, 2018
    What If You Could Sell Your Vote?
    August 24, 2017
    The Sleepy American
    September 12, 2017
    Latest News
    How Social Security Disability Shapes Access to Care and Everyday Health
    August 22, 2025
    How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
    August 22, 2025
    How One Fall Can Lead to a Long Road of Medical Complications
    August 22, 2025
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Annual Healthcare Costs For Family of 4 Now At $22,030
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Public Health > Annual Healthcare Costs For Family of 4 Now At $22,030
BusinessPublic Health

Annual Healthcare Costs For Family of 4 Now At $22,030

Dan Munro
Dan Munro
Share
3 Min Read
Image
SHARE

(Editor’s Note: Dan Munro writes for Forbes.com under the heading “HealthCare Compass”)

It’s that time of year for our annual check-up with the folks at Milliman. We’ll cut to the chase – it’s not good news. The full report is available (here) and the chart for annual healthcare costs for a fictional family of 4 (with a PPO) for each of the last 11 years looks like this:

 

(Editor’s Note: Dan Munro writes for Forbes.com under the heading “HealthCare Compass”)

More Read

How Western Companies Can Capitalize on the Opportunities in India
Expanding Insurance May Not Mean Long Lines and Trouble Seeing the Doctor
Hospital Facebook LIKES Reflect Patient Satisfaction and Lower Mortality Rates
A Healthcare CEO Speaks Out About Domestic Violence
5 Changes Implemented by a Florida Hospital to Improve the ER

It’s that time of year for our annual check-up with the folks at Milliman. We’ll cut to the chase – it’s not good news. The full report is available (here) and the chart for annual healthcare costs for a fictional family of 4 (with a PPO) for each of the last 11 years looks like this:

 

Image

Of the $22,030 healthcare cost for a family of four, the employer pays about $12,886 in employer subsidy 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. For employees, this represents a cost increase of 6.5% over last year’s total employee cost of $8,584.

You may recall from our coverage last year that the figure for 2012 ($20,728) compared almost exactly with the cost of a new model sedan from Chevrolet – the Cruze (here). This year, Milliman has elected to compare the figure ($22,030) to the annual cost of attending an in-state public college (a difference of only $231):

They’ve also updated the graphic to more easily represent the annual cost by component. The three basic components are:

1) Employee Contribution to health insurance ($5,544 payroll deductions)
2) Employee out-of-pocket Expense ($3,600)
3) Employer Contribution ($12,886)

Milliman also compared the total employee contribution with groceries for a year (slightly more) – and then the out-of-pocket employee expense with the yearly cost of gasoline for the average household (also slightly more).

There was a lone bright spot:

“For the second consecutive year, the increase over the prior year on a percentage basis was the lowest in the history of the study—and yet the total-dollar increase still exceeded $1,300 for the fourth year in a row,”said Lorraine Mayne, principal and consulting actuary with the Salt Lake City office of Milliman.

I wish there was better news here – there isn’t. Regardless of the fiscal debate around healthcare costs – the net effect to a family of four remains a huge challenge and a big part of the family budget. Unless and until this number stops going up – we’re not making the progress we need on either the technology side or the legislative side of healthcare transformation. In the end – those are the only two levers we have to bend the cost curve.

Original Post

TAGGED:healthcare costs
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

travel nurse in north carolina
Balancing Speed and Scope: Choosing the Nursing Degree That Fits Your Goals
Nursing
September 1, 2025
intimacy
How to Keep Intimacy Comfortable as You Age
Relationship and Lifestyle Senior Care
September 1, 2025
engineer fitting prosthetic arm
How Social Security Disability Shapes Access to Care and Everyday Health
Health care
August 20, 2025
a woman explaining the document
How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
Public Health
August 20, 2025

You Might also Like

What is an Accountable Care Organization (ACO)?
BusinessFinanceHospital Administration

ACO Prescription: Cure or Disease? [INFOGRAPHIC]

October 10, 2014

Adverse Drug Reactions Responsible for Nearly 100K Acute Hospitalizations in Elderly

November 28, 2011
wearable tech and HIPAA compliance
BusinesseHealthMedical DevicesMobile HealthPolicy & LawTechnology

What Developers Need to Know About HIPAA Compliance in Wearable Tech

May 19, 2014
Healthcare Reimbursement
BusinessFinanceHospital Administration

5 Trends in Healthcare Reimbursement

September 24, 2014
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?