KFF 2023 Employer Health Benefits Survey
“The average annual premium for employer-sponsored health insurance in 2023 is $8,435 for single coverage and $23,968 for family coverage.”
That means single coverage averages $ 702.92 per month and family coverage averages $ 1,997.33 per month.
Since these are averages, or a 50% mean, health insurance costs for some are greater than this and some are less. Regarding the former, for example, we know of a Texas public school district spending 128% of the national average. Conversely we know of Texas public school districts paying premiums as low as 47% of the national average.
According to the Segal Report to TRS ActiveCare officials two years ago the average mean rate needed to support the risk of the government health plan is $600+ per single insured per month or $7,200 per year. That’s 85% of the national average.
The Texas ERS health plan for state employees has an employee rate of about $620 the last time we looked. Thats about 88% of the national average.
Taking a look at individual health insurance rates stabilized through large risk pools can be an eye opener. Average rates tend to be well below national averages. That’s why ICHRA’s are growing market share faster than a speeding locomotive.
Summary of Findings – 10240 | KFF
