Workers Likely to Face Higher Costs for Health Insurance Plan

Recent media reports have been warning that workers are likely to face higher costs for their health insurance plan in the coming months.

This week, an MSNBC report cited recent data from the Kaiser Foundation predicting an increase in premiums as evidence that many employers are likely to pass the added costs on to their workers. Premiums were said to have increased by 5 percent over the past year, with employers paying an average of $9,860 and workers paying an average of $3,515 for their coverage.

"Employees will be paying a greater share of cost," Randy Abbott of Watson Wyatt was quoted as saying by the news network.

Rising costs have also had the effect of driving some small businesses away from offering health benefits altogether, putting a growing number of workers into the market for private coverage.

Still, taking the time to shop around online for the right health insurance plan will often find the right coverage to suit any budget or family, especially if one seeks out coverage with higher deductibles or other discounts.

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