Insurance agents, brokers and carriers aren’t exempt to rising medical costs. Insurance companies are increasing premiums in an effort to keep up with the rising demand of health care, according to the 2010 Compensation Data Insurance survey results. Insurance employers had an average premium increase of 9.6%. More than half of survey respondents report paying more than $9,600 annually for an employee-plus-family plan.
Employee-plus-spouse plans annually cost employers more than $7,200. Insurance organizations pay more than $2,400 per year for employee-only coverage, with just over 40% of employees paying more than $900 per year for the same coverage, according to Compdata Surveys. Although employees have become responsible for paying a larger portion of their medical insurance premiums over the last few years, employers still cover more than 70% of the total cost.
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