The Cost of Health Insurance in Central PA
Health insurance has been a hot topic all across the United States, especially over the last several years since the inception of Obamacare. The cost of health insurance coverage and the requirement of individuals to carry coverage has had major implications, both good and bad for those individuals and businesses. While a larger percentage of the population is now covered by insurance, the costs for some have grown astronomically. According to recent data, Americans spend over $280 billion on health insurance coverage with the expectation of at least another 21% increase over the next five years.
In this MORETidbits article, we've taken a look at some health insurance statistics for Central Pennsylvania including cost and coverage around the region.
the cost of healthcare coverage in central pa
In 2015, Central Pennsylvanians spent over $2.2 billion total on health insurance coverage (separate from dental, vision, and other related types of insurance). This represents a 53.5% increase in consumer spending since 2008. Over the course of the last eight years, growth in spending for health insurance increased on average about 6.7% each year. By the year 2020, spending related to health insurance in the region is projected to increase another 20% to almost $2.7 billion. Currently, the household average in Central PA for health insurance spending is $2,481 (in 2008, the household average was $1,629). We are likely to see an increase in that number to $2,894 by the year 2020.
The graph above shows the increase in health insurance spending from 2008 to 2015 in Central Pennsylvania with projections in this category for 2018, 2019, and 2020. Health insurance spending has been increasing at an average of about 6.7% per year from 2008 through 2015. Total spending is estimated to increase another 20% by the year 2020.
The heat map above displays health insurance spending in 2015 by zip code throughout the entire Central Pennsylvania region. Darker shaded areas represent zip codes who have higher total health insurance spending, while lighter shaded areas represent zip codes who have lower total health insurance spending.
The graph above is a breakdown of the household average being spent on health insurance in 2015 across each of the nine Central Pennsylvania counties (blue bars) compared to the overall household average of the region (red line). Adams County currently has the highest household average for health insurance spending at just under $2,600. Dauphin County is ranked the lowest in the area with the household average being just under $2,300. Adams, Cumberland, Franklin, Lebanon, Perry, and York Counties all fall above the Central Pennsylvania average.
additional health insurance facts in central pa
- There are 80,500 Central Pennsylvanians who currently have Medicaid
- 201,000 Central Pennsylvanians have health insurance coverage through Medicare
- Of households that carry insurance, 64.2% have a policy that covers themselves and other household members. 35.8% have health insurance policies that only cover themselves
- Most households with insurance obtain it through their place of work
- About 440,000 individuals have insurance through a Preferred Provider Organization (PPO)