Workers are increasingly spending more on health insurance that provides less coverage, according to a Huffington Post report.
According to a survey by consulting firm Towers Watson, the average amount employees paid for health insurance through work rose 9.3 percent to $2,764 in 2012, a 40 percent increase from 2007.
The average annual cost for employees and companies combined increased 5.9 percent to $11,664, according to the report. The new survey also found that more companies are charging extra for workers' spouses and children, restricting access to expensive prescription drugs and giving fewer choices when it comes to insurance companies.
Less than one-fourth of companies were "very confident" that they would still provide employee coverage in 10 years.
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According to a survey by consulting firm Towers Watson, the average amount employees paid for health insurance through work rose 9.3 percent to $2,764 in 2012, a 40 percent increase from 2007.
The average annual cost for employees and companies combined increased 5.9 percent to $11,664, according to the report. The new survey also found that more companies are charging extra for workers' spouses and children, restricting access to expensive prescription drugs and giving fewer choices when it comes to insurance companies.
Less than one-fourth of companies were "very confident" that they would still provide employee coverage in 10 years.
Related Articles on Coding, Billing & Collections:
Surgery Centers Report Payment Errors Following Postponement of Physician Rate Cut
Orthopedic Surgery, Neurosurgery Drive High Out-of-Network Bills for NY Patients
13 of American Families Struggle to Pay Medical Bills