Family Health Insurance Costs Jump to $24,000 a Year

The annual cost of employer-sponsored family health insurance plans rose 7% in 2023, pushing the average premium to $23,968 per year, according to the latest KFF Employer Health Benefits Survey. Workers pay $6,575 of the total cost on average, a year-over-year increase of about $500, or 8%, with employers picking up the rest of the bill. Although price hikes have been relatively small over the last two years, over the past five years, insurance premiums have increased by 22%, roughly in line wit