Job-based premiums continue to rise faster than wages, inflation

Annual premiums for job-based family coverage rose to $21,342 on average this year, according to an annual survey by the Kaiser Family Foundation.

That’s 3.7% higher than the cost of family coverage in 2019. Workers are paying more than a fourth of that tab—$5,588—with their employers picking up the rest. Meanwhile, premiums for individual coverage reached $7,470, an increase of 3.9%, with workers paying about 17% of the share at $1,243.

About 157 million people have employer-sponsored health coverage. Premiums for job-based insurance continue to rise at rates faster than workers’ wages and general inflation, which rose 3.4% and 2.1% year-over-year, respectively, the report showed. Over the last decade, average family premiums soared 55%, while wages grew 27% and inflation increased 19%.

The COVID-19 pandemic has threatened to disrupt employer-sponsored coverage, as companies lay off workers amid the economic downturn. Though estimates vary, multiple studies concluded that millions have lost

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COVID-19 Accelerates Insurance Digitalization to Meet Customer Demand: World InsurTech Report 2020

Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer needs

Insurers must explore new ways to build capabilities to meet the digital needs of customers as BigTechs1 and non-traditional players enter the insurance space, according to the World InsurTech Report 2020 (WITR) published today from Capgemini and Efma.

This press release features multimedia. View the full release here:

World InsurTech Report 2020 Infographic (Graphic: Business Wire)

With COVID-19 increasing customer engagement and expectations, the World InsurTech Report 2020 outlines a growing opportunity for InsurTechs, as insurers focus on their digitalization efforts. As BigTechs make their presence felt in insurance, the boundaries between insurance, InsurTechs, BigTechs, and tech partners are blurring. Insurers need to improve on high-impact focus areas including customer centricity, intelligent processes, product agility and an open ecosystem to remain competitive.

“Insurers have to look

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Go-Go Activism, Both Personal and Political, Is Coming Into Its Power in D.C.

In late August, on the night before Postmaster General Louis DeJoy testified before the House of Representatives about service cuts designed to manipulate the upcoming presidential election, ShutDownDC and Long Live GoGo organized a protest in front of his Kalorama apartment building. 

Go-go bounce beat band TOB performed on a flatbed truck in front of a banner that read, “Wait a minute, Mr. Postman.” 

Days later, when President Trump delivered his Republican National Convention acceptance speech on the White House’s South Lawn, TOB played at a “Drown Out Trump” demonstration just a few blocks away. Police would not let them get closer than Constitution Avenue NW, but TOB lead talker “Lil Chris” Proctor is certain that RNC attendees could hear the beat. “Bounce beat has really heavy percussion and drums,” he says. “We were playing real loud.”

And last week, when protestors paid an early morning “No Justice, No Sleep”

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