Lighthouse News Daily

Breaking Daily News

Saturday, January 23, 2021
Log in
  • Headlines
  • Business
  • Education
  • Entertainment
  • Sports
  • Technology
  • U.S.
  • World
  • Latest News
    • Inflatable Greenhouse Could Be A Food Source In The Outer Space
    • YouTube for Children Being Launched by Google
    • Some Animals Produce Natural Sunscreen to Protect Themselves from Radiation, New Study Shows
    • A New Genetic Map Tracks Down Dog Breeds And Their Evolution
    • Lack Of Sleep Causes Brain Cells To Slow Down
    • Meet Lyuba, the Best-Preserved Baby Mammoth in the World
    • Reports of Great White Shark Spottings Around Wells, Maine
    • Minecraft Adds Hour of Code Designer Tutorial
    • The de Broglie-Bohm Theory Is Back and It’s Surreal
    • Could High Carbon Dioxide Concentration Make Earth Greener?
You are here: Home / Business / Deductibles Have Become Bigger than Taxes

Deductibles Have Become Bigger than Taxes

September 23, 2015 By Grant Hamersma Leave a Comment

Email, RSS Follow

deductible taxes

Although the health insurance prices did not increase very much in the last few years, this was not a reason of joy for consumers. Even though the premiums –meaning what companies and employees pay in order to get health insurance – have been increasing at a low speed, the deductibles are rising rapidly.

Those increases, which must be paid before the insurance becomes operative, mean that people must pay an extra cost from their own pockets, according to a report made by the Kaiser Family Foundation and the Health Research and Educational Trust.

The decrease in healthcare prices is barely felt by the consumers, Kaiser Foundation chief executive officer Drew Altman declared.

The report also highlights that the health insurance premiums had an increase of only 3,8 percent during this year, with employees having to pay 1,071 of the average $6,251 cost. Concerning deductibles, they rose almost 9 percent, with workers having to pay an average of $1,077 per year.

This trend became powerful in the last 5 years. Beginning with 2010, deductibles are up 67 percent, compared to premiums, which are up 24 percent. On the contrary, the workers’ earnings increased with only 10 percent, as it was revealed by Kaiser’s analysis on the data provided by the Bureau of Labor Statistics.

The bigger deductibles have two interconnected reasons. Employers try to lower the costs for themselves, thus forcing the workers to pay. The workers, on the other side, having to pay more, tend to use the medical facilities less.

Obamacare is another reason for costs’ shifts. Starting with 2018, The Affordable Care Act will fine the expensive health plans with what’s entitled a “Cadillac tax.” This will represent a 40 percent tax on individuals having premiums over $10,200.

“If the Cadillac tax goes into effect, we’re likely to see a spurt,” Drew Altman, Kaiser Foundation chief executive officer, says.

Image Source: Flickr

Email, RSS Follow

Filed Under: Business

Pages

  • About/Contact
  • AccomplishNow Sandra Rechsteiner | A Journey to Self-Acceptance
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 17 other subscribers

Deadly Strike by Israel Deals Hezbollah and Iran Big Blow

January 19, 2015 By David Kellen Leave a Comment

Fear that Canadians Died in Vanuatu Cyclone

March 17, 2015 By David Kellen Leave a Comment

University of South Carolina Professor Victim of Murder-Suicide

February 6, 2015 By Adam Lynch Leave a Comment

Could Climate Talks in Paris Make a Difference?

November 30, 2015 By Adam Lynch 1 Comment

Chipotle’s Revenue Rises 12.2 Percent in Q3

October 21, 2015 By Adam Lynch Leave a Comment

Amazon Begins Email Service for Businesses

January 28, 2015 By Janice Bower Leave a Comment

GoDaddy Marketing IPO of $418 Million

March 19, 2015 By David Kellen Leave a Comment

Speed Looked at as Possible Factor in Crash Killing Bob Simon

February 12, 2015 By Joseph Decker Leave a Comment

Related Articles

  • income tax tab on a playing board with two dice near it

    Major Leak Under Codename Paradise Papers Exposes How Wealthiest Persons Use Tax Havens

    Nov 6, 2017
  • boston dynamics schaft robots

    Softbank Just Revealed Its Acquisition Of Boston Dynamics And Schaft

    Jun 9, 2017
  • barra and oculus showroom

    Barra Left Xiaomi But Will Now Join Facebook VR

    Jan 27, 2017
  • medium evan williams

    Medium Will Be Laying Off Some Of Its Staff

    Jan 5, 2017
  • The terms of Brexit are still unclear after the vote

    A Special Project to Save London From Brexit

    Oct 2, 2016
  • Toy companies are forbidden to use children's personal data

    No More Toy Companies Spying On Kids’ Online Habits

    Sep 15, 2016
  • Uber wants to allow self-driving cars in Pittsburgh

    Uber’s Self-Driving Cars Are Facing Uncertainty

    Sep 12, 2016
  • the American wage have grown in the last couple of years

    Wage Growth Shows Signs Of Improvement

    Sep 5, 2016
  • Obamacare definition on dictionary page

    Shutdown of Illinois Obamacare Insurance Co-Op Leaves 49,000 in Limbo

    Jul 15, 2016
  • Nighttime view of Pittsburgh, PA

    Pittsburgh Casino is Fed Up with Paying City $10M in Taxes Every Year

    Jul 8, 2016

Categories

  • Business
  • Education
  • Entertainment
  • Headlines
  • Health
  • Nature
  • Science
  • Sports
  • Technology
  • U.S.
  • Uncategorized
  • World

Copyright © 2021 lighthousenewsdaily.com

About | Contact · Staff · Terms and Conditions · Privacy Policy

This website uses cookies to ensure you get the best experience on our website. Learn more.