Insurance costs keep going up - Mansfield News Journal
While some are cutting back on various options, others are choosing high-deductible plans that carry low premiums and work through individual health savings accounts.
Because he doesn't want to risk dropping coverage, Mansfield business owner Bill Hope chose a high-deductible plan for himself and 14 employees, which means a whopping $2,500 upfront payment should any of them require medical care.
"It's a way you can keep costs down to a reasonable level," said Hope, who owns Alumni Roofing. "It's rare that one has to spend more than $2,500 a year."
Since 1999, average premiums for family coverage have increased 119 percent, according to research by the Kaiser Family Foundation. For family coverage, workers in small businesses contribute significantly more than workers in large firms.
Every year, the Kaiser Family Foundation conducts an Employer Health Benefits Survey, asking a random selection of public and private employers about health coverage.
Each of Hope's employees pays an $85 premium and has a health savings account, which allows each to pay for medical expenses with tax-advantaged funds. The funds roll over annually and earn interest if not spent.



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