Study: Insurance costs far outpace wage increases in Ohio

The average cost for a family insurance plan in Ohio grew 76 percent from 2000 to 2007, at a time when wages in the state grew at just 8.9 percent, according to a new study from Families USA(Source: “Ohio health insurance premiums grow 9 times faster than wages, study finds,” Cleveland Plain Dealer, Sept. 19, 2008).

The study found that disparity between cost increases and wage increases in Ohio is the second worst in the country. The higher premiums also affected businesses, which have seen their share of premiums for family plans go up 75 percent since 2000.

"Skyrocketing health care costs were a problem in Ohio before the current economic downturn, and slow wage growth or job losses now only make matters worse," said Ron Pollack, executive director of Families USA. "As health care becomes less and less affordable, Ohioans face difficult choices in trying to provide health coverage for themselves and their families. A bad situation is clearly growing worse."

The only state that experienced a wider disparity between wage increases and the rising costs of premiums was Michigan.