Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

Buying a new car every year would be a very impractical expense. It would also be cheaper than a year’s worth of health care for a family.

Why it matters: The cost-shifting and complexity of health insurance can hide its high cost, which crowds out families’ other needs and depresses workers’ wages.

By the numbers: Health care for a family covered by a large employer cost, on average, $22,885 last year.

  • That’s $2,000 more than the sticker price for a brand-new Volkswagen Beetle.
  • If the iconic Beetle isn’t your style, $22,885 would also be more than enough to get you a Ford Focus ($17,950), a Toyota Corolla ($18,600) or a Hyundai Sonata ($22,050).

Between the lines: Roughly $15,000 of that $22,885 comes from employers’ contribution to their workers’ premiums. That share alone is enough to buy a basic sedan.

  • Workers chip in an average of $4,706 per year premiums, and then spend an additional of $3,020 out of pocket. Combined, that’s almost 4 times more than the average family spends on gas in a year.

The Beetle is being discontinued in the U.S. after this year. But as health care costs continue to rise, they’ll be comparable to even fancier cars. They’re already inching up toward the cheapest Cadillac — a familiar car metaphor.

  • The Affordable Care Act’s “Cadillac tax” was intended to put downward pressure on prices by taxing the most generous health plans. But it actually affects a broad range of plans, and Congress has delayed the tax until 2022. The House has voted to repeal it altogether.

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Technology

Israel's new PM Naftali Bennett made his name as a millionaire tech founder

Photo illustration: Annelise Capossela/Axios. Photo: Menahem Kahana/AFP via Getty Images

Naftali Bennett yesterday became prime minister of Israel, succeeding Benjamin Netanyahu, after his power-sharing government survived a vote of confidence.

Why it matters: Bennett becomes Israel's first new prime minister since 2009, and he takes office as Netanyahu stands trial for corruption.

2 hours ago - World

Biden at NATO summit: Collective defense is "a sacred obligation"

President Joe Biden is greeted by NATO Secretary General Jens Stoltenberg at the NATO summit. Photo: Patrick Semansky/POOL/AFP via Getty Images

President Biden reaffirmed the United States' commitment to NATO during a sit-down with Secretary General Jens Stoltenberg, the president's first meeting of NATO's 2021 summit in Brussels.

Why it matters: Biden has used his first international trip as president to reassure allies of his administration's commitment to multilateralism and to NATO's Article 5, which stipulates that the entire alliance will respond to an attack on any member nation.

Climate reality collides with rhetoric at the G7 summit

Illustration: Annelise Capossela/Axios

Leaders of the G7 agreed to a sweeping new agenda over the weekend. But while the communique they issued is lofty in goals, it lacks crucial details on climate.

Why it matters: The G7's paucity of specifics on climate finance and domestic coal consumption, in particular, calls into question the ability of the wealthiest nations to take sufficient action on global warming.