Not surprising. When I worked for a large corporation

in middle management, we were well aware of the fact that the cost of benefits was in the order of 30-32% of the total cost of an employee. I just looked up the link below, and it hasn't changed much since I retired. The data in this link are really interesting, as the cost of labor is broken down into types of employee, union vs non-union, etc.

The average cost of insurance is shown to be 8.3% in private industry, with an average employee cost per hour worked of $33.26, it looks like the average cost of insurance is about $5500 to $6000 per year. Not every worker is married, and if married, they may not have kids, and this would be taken into consideration as the company negotiates for insurance rates. Consequently, the market cost for an individual policy for a family of four ($11.5K) for a decent policy seems consistent with the cost to an employer across the company's mix of employees.

(In response to this post by BocaHoo91)

Link: https://www.bls.gov/news.release/pdf/ecec.pdf

Posted: 10/13/2017 at 10:29PM

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