Quote:
Health insurance premiums in 2009, the average annual premiums for employer-sponsored health insurance are $4,824 for single coverage and $13,375 for family coverage. Premiums for family coverage are 5% higher than last year ($12,680),
Employer Health Benefits Annual Survey Archives | The Henry J. Kaiser Family Foundation
2009 pdf
The average premiums for covered workers in 2014 are $6,025 annually, or $502 per month, for single coverage and $16,834 annually, or $1,403 per month, for family coverage. The 2014 average single premium is similar to the 2013 average premium (the 2 percent increase is not significant). However, the 2014 average family premium is 3 percent higher than the 2013 average premium (Exhibit 1.11).
EHBS 2014 – Section One: Cost of Health Insurance – 8625 | The Henry J. Kaiser Family Foundation
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My medical insurance with $3,900 in total deductibles is $526.00/ mo for 1 person -- me at age 59 -- that is the ''circle'' I am in ... In 2014 I paid $626 a month with a lower deductible ($1,850) policy. A little above the national average.
These are national statistics there may be some variation state by state. I live in a middle to high cost state. As I recall, Nevada is one of the higher cost states. Obamacare was enacted March 2010 and States received grants for interim Obamacare funded policies the following year.
For some reason you were paying one half the national average in 2009.
And in 2014 you paid at about half the national average.
Why is that?
You may have jumped an age bracket (45?) and there was 25% -30% inflation in insurance cost rates during the same period as outlined above. 2009 to today 5+ years.
I had to get a new gold crown for a tooth 2 years ago it was $700 I started a gold crown this week for another tooth it will cost $900. That is almost 30% inflation in two years!
Incorporate (if you are not) and start a HRA benefits program -- the healthcare expenses it pays (reimburses) are 100% deductible or even on a Schedule C they are a direct 100% deduction now. Since you are in a top tax bracket that alone is a 39% tax subsidy.
Most of the costs for all healthcare insurance is either tax sheltered expense or a taxable pass through;
- "IRS:
Health Plans
If an employer pays the cost of an accident or health insurance plan for his/her employees, including an employee’s spouse and dependents, the employer’s payments are not wages and are not subject to Social Security, Medicare, and FUTA taxes, or federal income tax withholding."For a C corporation they are 100% expensed out.
For a Subchapter S they are a pass through to the Officer
- "again IRS:
However, the cost of health insurance benefits must be included in the wages of S corporation employees who own more than two percent of the S corporation (two percent shareholders)."
Employee Benefits
There is your subsidy :P