As Healthcare Costs Triple, Black Families Pay Even More

by Jennifer Porter Gore

All eyes are on the budget bill making its way through Congress that will gut healthcare coverage for low-income Americans who rely on public insurance such as Medicaid and the Affordable Care Act.

But costs for households that have employer-sponsored health coverage are also skyrocketing, eating into paychecks and leaving less money for food, housing and other expenses. And the trend shows that, for Black families, costs including healthcare premiums are taking an even bigger bite.

The annual report from the Milliman Medical Index finds that healthcare costs for the average hypothetical family of four have almost tripled since 2005.

“Annual growth has averaged 6.1%, far outpacing any other household expense,” says Deana Bell, a principal and consulting actuary