In 2016, healthcare costs reached $25,826 for the average American family, based on the Milliman Medical Index analysis, according to ebn.
Here are six insights:
1. This is the first time healthcare costs exceeded $25,000 for a typical American family.
2. The analysis found the costs for an employer-sponsored preferred provider plan increased $1,155 from last year.
3. An employer contributes an average of $14,793 of the cost and an employee pays $11,033.
4. Primary drivers for this increase include rising drug costs and declining employer contributions.
5. Prescription drugs account for 17 percent of the total healthcare costs. Employers only pay 57 percent of the total cost, compared to 61 percent in 2001.
6. The report found healthcare costs will rise 4.7 percent in 2016.