b'Word Graph 2* Affordable Care Act (ACA or Obamacare) Premiums,Associate News Subsidies, Deductibles and Out-of-Pockets: According to eHealthInsurance.com (as visited October 28, 2022), the average premium, deductible, out-of-pocket maximum, advanced premium credit subsidy and cost sharing reduction subsidy for 2020 Obamacare plans were:Graph 4*means employers contributed an average of $6,443 (83.3%) for single coverage and $16,257 (73.2%) of the cost of family coverage (see Graph 3).For reference and perspective, the average amount covered workers pay for family coverage has increased 44.6% over the past 10 years, while the amount employ-ers contribute to the coverage has increased 48.5%. It is interesting to note that during the same time period,Premium:general inflation based on consumer price index (CPI) data has risen by 20.5% (excluding the current year),Average Premium (single / unsubsidized) = $456/and the national average wage index (according to themonth ($5,472/year)Social Security Administration) has risen by aboutAverage Premium (family of 4 / unsubsidized) = 40.1%. Its also interesting to note that since 2010 (the year the Affordable Care Act was passed), average fam- $1,152/month ($13,824year)ily premiums have increased 57.2%!Deductible:Graph 3*Average Deductible (single) = $4,364Average Deductible (family)= $8,439 Out-of-Pocket Limits: Average Annual Maximum Out-of-Pocket Limit(single) = $8,150 ($9,100 in 2023) Average Annual Maximum Out-of-Pocket Limit(family) = $16,300 ($18,200 in 2023)Premium Tax Credit Subsidy: In 2020, 87% of the 10.7 million Obamacare insureds received an ACA premium subsidy.The monthly advanced premium tax creditsubsidy averaged $486/month. If you have questions Insurance Deductibles and Other Benefit Levels: Accord- about this article or ing to the KFF survey, 85% of workers are coveredCost Sharing Reduction Subsidy: would like to discuss under plans that have an annual deductible. This is the Cost sharing reduction subsidies, which are onlyyour companys healthamount the insured must pay before insurance benefitsavailable in conjunction with ACA silver metalinsurance progam, feel kick in (although there are often some benefits like well- plans sold on a government exchange, reduced thefree to contact me at ness care that are covered on a pre-deductible basis). Inannual deductible by as much as $4,600. (801) 263-8000 or 2021, the average annual deductible for single coverageinfo@wmimutual.com. was $1,669. Similar to the benefit distinctions amongstSee https://news.eHealthInsurance.com/_ir/68/20217/ACA_ Unsubsidized_Index_Report_2021.pdf andemployer sizes, the average deductible for workers whohttps://www.eHealthInsurance.com/resources/individual-and-family/are covered through smaller companies is significantlyhow-much-does-individual-health-insurance-cost.higher than those who are covered through larger com- * Graphs were compiled with information and data from theSpanies ($2,379 compared to $1,397) (see Graph 4). KFF survey. Numbers do not sum to 100% due to rounding.WPMA News / Winter 202245'