American workers have been shouldering the burden of rising medical costs as health insurance premiums shot up 63 percent from 2003 to 2010, a new study reveals.

Based on findings from annual government surveys of companies, the Commonwealth Fund found health insurance went off the charts in the seven years leading up to the passage of the 2010 health care law.

"Out-of-pocket costs for premiums and care are consuming a larger share of people's incomes at a time when incomes are down in a majority of states," said Cathy Schoen, the study's lead author and senior vice president of the Commonwealth Fund.

The average premium for covering your family could skyrocket 72% to almost $24,000 per year by 2020 if this trend continues, Schoen added.

The news comes at a time when companies are pumping up health insurance premiums for smokers and obesity is being primed as the next target for insurers' cost hikes.

Having trouble making insurance payments? Here's why changing your mindset could help >