Total health care costs for typical family will top $25,000 this year

From the Journal-Sentinel:

The average total cost of health care for the typical family of four will top $25,000 this year.

That projection — from the annual Milliman Medical Index — includes the average cost of health insurance paid by employers and employees, as well as deductibles and out-of-pocket expenses for the most common type of health plan.

The total cost — $25,826 this year — may prompt disbelief. But few people realize what their employer spends to provide health benefits or the potential cost of deductibles and other out-of-pocket expenses if someone in a family has a serious illness or even a series of relatively minor mishaps.

“A lot of people are sheltered from the true cost of health care, despite the fact that they are paying more than in the past,” said Scott Weltz, a principal and consulting actuary who works out of Milliman’s office in Brookfield.

They are paying much more: The Milliman Medical Index has more than tripled since its first year in 2001.

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