Soaring Health Care Costs Leave Black Families Paying the Price

The ongoing budget bill in Congress poses a significant threat to low-income Americans, particularly those dependent on public insurance like Medicaid and the Affordable Care Act. Moreover, families with employer-sponsored health coverage are also grappling with soaring costs, which diminish disposable income for essentials like food and housing. Notably, Black families face even steeper healthcare expenses. The Milliman Medical Index (MMI) report reveals that healthcare costs for an average family of four have nearly tripled since 2005, with annual growth averaging 6.1%, as noted by Milliman's Deana Bell. Although the MMI does not specify figures for Black families, JAMA research indicates they incur higher insurance premiums compared to white counterparts. This has contributed to entrenched wage stagnation, with healthcare premiums consuming a larger percentage of earnings for Black and Hispanic families. By 2019, premium rates for these groups reached nearly 20%, compared to around 13.8% for whites, reflecting persistent economic disparities.