Healthcare costs for a family of four decrease for the first time in history

Written by Jess Lagasse, Associate Editor for Healthcare Finance News Editorial:

For the first time in the 16-year history of the Milliman Medical Index, healthcare costs for a family of four have actually decreased, with the numbers dipping primarily because of the COVID-19 pandemic, the annual MMI report found.

The MMI, published by actuarial firm Milliman, measures healthcare costs for individuals and families receiving coverage from an employer-sponsored preferred provider plan.

The ongoing public health emergency bore witness to a 4.2% decrease in healthcare costs. Based on restated claims data, healthcare costs for a hypothetical family of four in 2020 were $26,078, compared to $27,233 in 2019.