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Introduction
Health
Care Costs Continue to Rise
Did You
Know?
Experience
Is Driving Health Care Costs!
Metabolic
Syndrome – Syndrome X
Costliest
Health Conditions
Obesity Drives Health Care Costs
The Health
Risk Continuum
Wellness
Programs Make the Difference
Obesity is
Linked to higher rates of chronic conditions than Smoking, Drinking
or Poverty
Why Go Smoke Free?
Giving Your Health Benefits a Checkup
Understand Health Industry Trends
Communication is Important to Employee
Wellness
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Health care costs continue to rise
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Provided by
the Health Initiative
Project
An Employee Health
Program with Accountability
Health insurance premiums have increased
significantly over the last 20 years, far faster than
workers earnings or inflation. Although the increase has
slowed in the last year, this chart shows that we have not
figured out how to keep health costs down. Research
indicates that we can expect future increases to be greater
than the rate of wage growth and inflation.
|
Year |
Cost of Health Benefit per employee |
% Increase from Previous Year |
Added Cost per employee |
|
2003 |
$6,215 |
11.2% |
|
|
2004 |
$6,679 |
7.5% |
$464 |
|
2005(expected) |
$7,120 |
6.6% |
$441 |
In the last two years, average medical
cost increases have been 10% to 14%, which amounts to over
$450 per employee per year. An Akron based company with 100
employees probably spent at least $46,000 more than they did
in 2003. Imagine what else the company could have spent that
money on:
- shareholder dividends
- profit to the bottom line
- investment in capital or equipment or
people
- investment in research and
development
Spending the money on health benefit
increases does not add value to local businesses or local
people. We expect this trend to continue.
learn more ...
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