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Expand chart
Adapted from the Kaiser Family Foundation; Chart: Axios Visuals

The average cost of family health insurance offered by companies climbed 5% this year, exceeding $20,000 for the first time, according to the newest annual survey of employer health benefits from the Kaiser Family Foundation.

The bottom line: Employer health coverage continues to get more expensive and less comprehensive for workers — all coming at the expense of people's paychecks.

By the numbers: KFF's survey, considered to be a gold standard for data on employer-based health plans, sampled more than 2,000 different companies.

  • The average family plan premium in 2019 totaled $20,576. Employers paid for 71% of that cost, down slightly from 72% in 2018.
  • The average premium for single workers was $7,188. Employers covered 83% of that cost, up slightly from 81% in 2018.

The intrigue: Workers aren't just paying more in monthly premiums. Employers continue to raise the average deductibles, which means more workers are paying for more of their care out of pocket later into the year.

  • Workers' earnings rose 26% from 2009 to 2019. Deductibles soared 162% in the same time span.

The big picture: Many Democratic candidates have advocated for preserving employer-based health insurance despite the rising costs, higher deductibles and large tax breaks.

Go deeper: Millions of workers lose or change health plans every year

Go deeper

Dan Primack, author of Pro Rata
1 min ago - World

SEC announces Chinese companies unable to go public in the U.S.

Illustration: Sarah Grillo/Axios

Chinese companies will be unable to go public in the U.S. unless they make new risk disclosures, according to a statement released Friday morning from SEC chair Gary Gensler.

Why it matters: Chinese companies, and tech startups in particular, are already under growing pressure from their own government. Now they're also getting squeezed by U.S. officials.

23 mins ago - Sports

U.S. swimmer Ryan Murphy causes stir with doping comments

Bronze medallist Britain's Luke Greenbank, gold medallist Russia's Evgeny Rylov and silver medallist USA's Ryan Murphy pose with their medals after the final of the men's 200m backstroke. Photo: Jonathan Nackstrand /AFP via Getty Images

U.S. swimmer Ryan Murphy raised questions about the presence of doping in swimming following a second-place finish in the men's 200-meter backstroke on Thursday.

Driving the news: Murphy, who won gold in the 200-meter backstroke race in Rio, said following his race: "At the end of the day, I do believe there’s doping in swimming. That is what it is."

Key inflation measure grew slower than expected in June

Illustration: Sarah Grillo/Axios

The price of goods and services rose 0.4% in June, slower than the 0.5% growth during May, according to the core personal consumption expenditures (PCE) price index released Friday morning. The June reading was lower than the consensus expectation for 0.6% growth.

Why it matters: The core PCE is the inflation measure the Federal Reserve watches most closely. June's reading is the second month in a row of decelerated price growth, giving the Fed breathing room to design a pullback strategy from its emergency market support.