Report:  Health insurance premiums in states have gone up between 90% to 150% over the last decade – far faster than wages and inflation

W ASHINGTON – Today, speaking to a group of State Insurance Commissioners, Vice President Biden highlighted a new White House report documenting the burden of health insurance premium increases on families.

"The status quo of rising premiums is simply unsustainable," said Vice President Biden, "for families, for businesses, for state budgets, and for our national economy."

Health insurance premiums for American families continue to skyrocket. In the past year, the national average annual family premium for employer-sponsored health insurance rose to $13,375 in 2009 – a shocking 5.5-percent increase during a recession when inflation actually fell by 0.7-percent.

The White House's analysis found that families’ premiums in states have gone up between 90& to 150% over the last decade – far faster than wages and inflation.

“The State Insurance Commissioners understand firsthand the health care crisis – and are fighting every day to combat it and reduce unjustified premium increases,” Vice President Biden said. “But these numbers are just one more piece of evidence that the need for nationwide reform is urgent.”

To read the full White House report, please click here. 

Editor’s Note: To read Bobby Reyes’ essays on “reinventing” the American healthcare and medical industries, please click on these hyperlinks:

Reinventing the American Healthcare Industry

Reinventing the American Healthcare Industry (Part II)