Healthcare or a Hyundai?
The average cost of healthcare for a family of four this year has increased nearly 7% to $20,728 annually, according to a new study by benefits consultant Milliman, or similar to the cost of a mid-size sedan.
A quick online search turned up a 2012 Hyundai Elantra selling for $20,728 in Michigan sporting “volcanic” red paint. You can nab a 1956 Chevrolet Bel Air in Santa Maria for the same amount or for better mileage a 2010 Toyota Prius with just 36,000 miles in Miami.
There’s a good chance that health care costs for the typical family of four now are higher than their annual mortgage payment….
“When it comes down to it, that’s a lot of money for the typical family of four,” said Scott Weltz, a consulting actuary with the Milwaukee office of Milliman.
Clearly, $20,000 is a lot of money. Politico calls this a “dubious milestone.”
To see the full report, go here.