New White House Report Highlights Gap in Wage, Premium Increases
Today, White House officials released research showing that health insurance premiums have risen much faster than inflation in every U.S. state, a finding that builds the administration's case for overhauling the health system, Reuters reports.
According to the report, by the White House's National Economic Council, premiums in states have grown by 90% to almost 150% in the past 10 years, while wages and inflation have climbed by 38% and by 28%, respectively. The report said, "In every state, premiums have increased faster than wages and in every state, family budgets are consumed by an increasing share of health care premiums."
Biden Set To Use Data
Vice President Biden is set to highlight the report today during an appearance before the National Association of Insurance Commissioners.
According to excerpts of his prepared remarks, Biden notes that premiums in Alaska increased by 145% over 10 years while wages increased by 35% and that Florida premiums increased by 121% while wages climbed by 43%.
According to Biden, Michigan had the smallest gap -- 37% -- between premium and wage growth (Zengerle, Reuters, 9/22).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.