Massachusetts employees pay more for health care premiums
Dec 16, 2024
BOSTON (WWLP) - Massachusetts prides itself on having the highest rate of health insurance coverage for residents in the United States, but some crucial insurance costs are climbing.
The Center for Health Information and Analysis put out a survey from April to September of this year and found that health insurance premium costs for most Massachusetts employees are uniquely high.
Nationally, employees pay 15% of their insurance premiums, while in Massachusetts, employees pay 24%. However, Massachusetts employees' deductibles are $433 lower than the national average, and the premium for single coverage is $43 lower than the national average.
The survey shows that almost one-quarter of employers that offer health insurance have reported raising the member cost shares over the last year to counteract rising overall costs. Of all Massachusetts businesses, almost two-thirds offer health insurance, soaring past the national rate of 54%.
Most of these companies offer only high deductible plans with lower premiums but higher out-of-pocket costs. Of these companies, 71% offer at least one high-deductible health plan.
Over half of small companies--and one-third of large companies--only offer these high-deductible plans. 34% of the companies offering these plans also include a health savings option.
Much of Massachusetts' near-universal healthcare coverage can be attributed to a 2006 healthcare reform act that became a model for the Affordable Care Act on the federal level.
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