The annual premium survey data from the Kaiser Family Foundation and HRET are now out.
Press release, details are here.
Top line number is that premiums rose by 5 percent from 2007 to 2008. That will lower the rate of growth used in both scenarios I've described in previous posts. The "recent path continues" scenario used an average of the rate of growth of the past five years. The 5 percent from 2007 to 2008 is lower than any of the increases in any of the previous five years. The "recent path continues" scenario assumed the 6.2 percent increase from 2006 to 2007 would continue. The new data suggests continued slowing in premium growth.
All this suggests it will take longer for the Obama $2,500 promise to be realized. I'll get out the spreadsheets and see what happens.
After the premium increase, second billing in the KFF/HRET press release went to the dollar amount of employee contributions to health premiums. "Workers Pay An Average Of $3,354 Annually Toward Family Coverage," said the release. See my September 9 post about the question: $2,500 savings on what? The health policy types see this as $2,500 savings on total premium costs, but how many ordinary folk will see this as a promise of $2,500 savings off of what is now $3,354. All I can say is, I don't want to be the person who would have to explain this in an Obama Administration.
Subscribe to:
Post Comments (Atom)
1 comment:
I realize this is an Obama blog, but I'd like to see your interpretation/analysis of McCain's $2,500 (the individual tax credit towards purchase of health insurance). Does $2,500 = $2,500?
Post a Comment