SEATTLE, May 11 (UPI) — The cost of healthcare for a U.S. family of four is $18,074, an increase of $1,303 from last year — the highest ever, a consulting firm says.
The Milliman Medical Index, created by Milliman Inc., an independent actuarial and consulting firm based in Seattle, tracks the changes in average annual healthcare costs for a U.S. family of four among 14 metropolitan areas covered by an employer-paid preferred provider organization.
“The cost of group insurance continues to increase at a historically-consistent pace, even with reform now the law of the land,” study co-author Lorraine Mayne, Milliman principal and consulting actuary, says in a statement.
“The cost of group insurance continues to increase at a historically-consistent pace, even with reform now the law of the land. While there will be short-term cost implications, especially for particular employees and certain employers, this year reflects a continuation of the prevailing cost trends.”
The healthcare cost for the family of four is calculated by the number, type and cost of healthcare services and how much the employee’s health plan pays the medical providers for the services.
The medical costs range from more than $20,000 in New York, Miami and Chicago to $16,071 in Phoenix, the study said.
The complete Milliman Medical Index is at www.milliman.com.
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