Family Health Insurance Premiums Jumped to Nearly $24,000 in 2023: Survey

A family of four is ‘basically spending pretty close to what a new car costs,' said a co-author of the survey report.

A health care professional prepares to enter a patient's room in a file photo. Megan Jelinger/AFP via Getty Images

Family insurance premiums for employer-sponsored health insurance have risen 7 percent on average to $23,968 this year, according to findings from health policy research organization KFF, formerly known as the Kaiser Family Foundation.

On average, workers contributed $6,575 toward their family premiums in 2023, up roughly $500 from last year, according to the KFF Employer Health Benefits Survey, conducted in January through July among more than 2,100 small and large employers.