Life insurance industry salaries rise 5% in July 2017
Health insurance industry workers are seeing their annual salaries rise by 5% from a year ago, according to a survey released today by the National Association of Insurance Commissioners.
The annual survey of 3,000 insurance industry employees shows the average annual salary for the sector rose from $89,000 in March 2018 to $91,000 today, according in a statement from the Association of Insurers and Employers (IoA).
The IoA survey shows the number of people with insurance in the US increased from 3.5 million in 2016 to 4.6 million in 2019, with the average salary for employees rising by 8% to $87,000.
In the past year, however, the industry has been hit by a number of issues, including a drop in demand from employers due to the ACA and the expiration of the Affordable Care Act (ACA), which was implemented in 2020.
The ACA repealed many of the ACA’s provisions, including the employer mandate, which required insurance companies to provide coverage to their employees.
The ACA has also caused a decrease in demand for coverage.
According to the IoI, premiums for 2017 were $6,567, while the average cost of coverage was $19,621.
In 2019, the average pay of an employee with insurance was $78,068, but by 2020, the premium had fallen to $76,904, according the IaA.
The industry has also been hit with the impact of a recent health law called the Patient Protection and Affordable Care Acts, which has reduced the number and amount of employers that could discriminate against their workers.
The healthcare law has forced insurance companies across the US to cover maternity care, prenatal care and emergency care, as well as other routine healthcare services, such as dental care and vision.
However, insurers are still offering insurance for pre-existing conditions, such for people with heart conditions, cancer, diabetes and arthritis.
The US is a big market for insurance, with more than 11 million people insured.
However, it has a big advantage in that many people are insured through their employer.
The IaAs survey also showed that in 2019 the average insurance company paid an average of $4,566 in health care costs, a drop of $5,632 from the previous year.
The average cost per worker with health insurance has dropped by $1,000 since 2016, according, the report.