Thursday, January 28, 2021

Private Sector Employee-Only Health Premium Costs in New England

The annual cost for single premium (i.e. employee-only) health insurance coverage charged to private sector employers in New England is typically higher than in other regions of the United States. Only small firms, with fewer than 50 employees, in Maine find themselves looking at annual premium costs that are below the national average for similar-sized employers. Annual employee-only health insurance premium costs for small employers in the other five New England states, and larger employers throughout the region, typically run higher than national averages.  2019 data from the most recent Medical Expenditure Panel Survey, a data survey administered by the U.S. Department of Health and Human Services' Agency for Healthcare Research and Quality, reveals the following about private sector employee-only health premium costs in New England and nationally:

State (1) Smaller Firms (2) Larger Firms Overall Avg.
CT $7,607 $7,492 $7,516
ME $6,295 $7,720 $7,424
MA $8,017 $7,441 $7,540
NH $7,136 $7,284 $7,255
RI $7,483 $7,202 $7,263
VT $6,978 $7,415 $7,319
U.S. $6,920 $6,983 $6,972

(1) fewer than 50 employees
(2) 50 or more employees

Source:  Medical Expenditure Panel Survey  Table II.C.1 - Average total single premium (in dollars) per enrolled employee at private-sector establishments that offer health insurance by firm size and State: United States, 2019