Harriet Torry
speaker
611 appearances
11 recordings
1 series
first heard Sep 2017
last heard Dec 2024
Harriet Torry’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Americans Are Paying More Than They Used to for Healthcare · 30 Dec 2024
podcast
It's a sizable chunk of Americans' budget.
It's less than they spend on things like rent and transport and food.
But it's definitely more than other categories that the Labor Department measures, like education, for instance, or entertainment.
About 8% of American spending goes on health care.
So that would include the cost of insurance, monthly insurance premiums and so on, and also things that they have to buy for health care needs, everything from prescription drugs to a nebulizer to a box of Band-Aids.
It's a sizable chunk of Americans' budget.
It's less than they spend on things like rent and transport and food, but it's definitely more than other categories that the Labor Department measures, like education, for instance, or entertainment.
Most Americans get health insurance through their job, about 60% of them.
And people usually see the premium as the standout, eye-catching expense.
When you look at your paycheck every month, you see the money that's coming out.
And if you have your healthcare through a job, that's about $114 if you're just paying for yourself.
And if you're doing a family premium, it's about $525.
That's according to the healthcare nonprofit KFF.
Again, those numbers are up considerably, about 30% from a decade ago.
Yes, they are.
Companies have been shouldering a lot of those costs.
So the average worker spent about $6,300 on premiums for family coverage.
And for employers, the cost was nearly $20,000.
Companies are taking on some of that cost, but ultimately, economists say that really everyone ends up paying because if a company has to spend more money on healthcare premiums, that means there's less money left over to give out raises, for instance, or to spend on development and things like that.
There are a few factors contributing to that.
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