NJ public worker health premiums set to rise by double digits
Actuaries project steep premium hikes for state and local workers starting next January due to drug costs.
New Jersey's public sector employees face another year of significant health insurance increases. Actuaries from Aon presented these findings Wednesday at a State Health Benefits Commission meeting, noting that about 400,000 workers will see rates change in January.
Local government workers are poised for the steepest hikes among all groups. One report indicates local premiums should rise by 17.3 percent while another cites an average increase of 22 percent for this demographic compared to state counterparts.
State employees and retirees will also see their costs climb, though at different rates depending on their status. Active state workers face a projected 15.1 percent increase, early retirees are looking at a 17.6 percent hike, while Medicare recipients may see less than a one percent rise.
The driving forces behind these double-digit jumps include the high price of popular drugs and soaring costs for specialists and outpatient care. For residents in Morris, Essex, and Passaic counties who work for local municipalities, this means higher monthly expenses or reduced take-home pay.
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