Today's News

Health insurance costs impact bottom line

August 16, 2000
/ Print / Reprints /
ShareMore
/ Text Size+
Health insurance is one of the most costly benefits for employers, accounting for 5.4 percent of total compensation costs, according to the Bureau of Labor Statistics. And health care spending could double by 2007, according to the Health Care Finance Administration.

Aging workers, new pharmaceuticals, advances in medical technology, and eroding profits of insurers and managed care companies are among the factors driving cost increases, according to information collected by the American Association of Occupational Health Nurses.

Some other statistics gathered by AAOHN:

  • Analysts expect rates for workers’ health care premiums to rise by 7 to 11 percent for large companies, and up to 20 percent for mid-size firms, according to the National Center for Policy Analysis.

  • Health care costs have increased nearly 2.5 times faster than any other benefit cost, and more than 3 times the pace of wages and salaries, according to the Bureau of Labor Statistics.

  • Studies have shown that workplace programs using health promotion help employees detect problems early, decrease absenteeism, reduce turnover, increase productivity, and improve morale, according to the American Institute for Preventive Medicine.

Did you enjoy this article? Click here to subscribe to ISHN.

You must login or register in order to post a comment.

STAY CONNECTED

Facebook logo Twitter YouTubeLinkedIn Google + icon

Multimedia

Videos

Image Galleries

ASSE Safety 2014 Review

A gallery of photos from the sprawling Orange County Convention Center in Orlando, where ASSE’s annual professional development conference was held June 8-11. All photos courtesy of the American Society of Safety Engineers.

9/30/14 2:00 pm EST

Leveraging Sustainability Initiatives to Benefit Your Community and Increase Compliance

This webinar will review how General Motors' Sustainability initiatives are being leveraged to improve the community and the environment, create efficient energy programs, improve sustainability tracking, impact on processes and overall reporting and improve overall social, environmental and corporate sustainability.

ISHN Magazine

ISHN SEPTEMBER 2014 COVER

2014 September

ISHN'S September issue features a series of essay on thought leadership. Get expert advice on self-motivation, compliance and more!

Table Of Contents Subscribe

THE ISHN STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\ISHN\safetyfourth.jpg
Safety Engineering, 4th Edition

A practical, solutions-driven reference, Safety Engineering, 4th edition, has been completely revised and updated to reflect many of today’s issues in safety.

More Products

For Distributors Only - SEPTEMBER 2014

ISHN FDO SEPTEMBER 2014For Distributors Only is ISHN's niche brand standard-sized magazine supplement aimed at an audience of 2,000 U.S. distributors that sell safety products. Circulation only goes to distributors. CHECK OUT THE SEPTEMBER 2014 ISSUE OF FDO HERE

ishn infographics

2012 US workplace deathsCheck out ISHN's new Infographic page! Learn more about worker safety through these interactive images. CLICK HERE to view the page.