The Importance of U.S. Manufacturing
23. Manufacturers Support Health Insurance for Workers and Families
In 1999, the average premium for family coverage in the manufacturing sector averaged $5,788. By 2013, this figure rose to $15,082. The 11 percent annual rate of increase over 14 years was more than double the rate posted by the Producer Price Index, which reflects the changes in prices that manufacturers charge for their output.
In the face of rising health insurance premiums, manufacturers roughly maintained their percent contribution for individual coverage from 2006 to 2013 and have made modest reductions for more expensive family coverage. The average contribution for premiums made by manufacturers in 2013 was $4,151 for single coverage and $10,859 for family coverage. Thus, an average company providing coverage for the families of 1,000 employees would pay premiums in excess of $10.8 million annually.
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