As various news organizations reported, anxious Americans will vote in less than a month with health care as a dominating concern. A new annual report shows why: Medical costs keep rising, as does the cost of health insurance, notably the coverage most of us get from our employers. Companies keep pushing on to workers higher premiums and deductibles that race ahead of inflation and devour wage growth.
Deductibles — the out-of-pocket costs that patients must pay before their coverage kicks in and benefits them — have skyrocketed since 2008, growing by 212 percent. That’s eight times faster than wage growth, and 12 times faster than inflation, according to the latest research by the Kaiser Family Foundation.
The average deductible, $303 a decade ago, now has hit $1,573 for single coverage.