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Article: Health care crisis: health care costs are soaring and employees don't want to pay, leaving CEOs with one very expensive problem.(Roundtable)
- Article from:
- Chief Executive (U.S.)
- Article date:
- June 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mention "heath care" to the CEO of any large company and the prevailing reaction is an outpouring of frustration. And for good reason. Continuing a trend of double-digit increases, health insurance premiums rose an average of 14 percent last year and are expected to jump by 11 to 20 percent annually for the next three years. Small wonder that there are a rising number of Americans--some 43 million at present--without any insurance whatsoever. What's more, as 77 million baby boomers head into retirement, increasing longevity and corporate cutbacks on retirement health care benefits are taxing an already shaky Medicare system.
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