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Article: U.S. Companies Face Lowest Health Care Cost Increases Since 1999, According to Hewitt Associates; Employers and Employees Struggle With Health Care Costs; Rate Hikes Continue to Outpace Inflation and Salary Increases.
- Article from:
- Business Wire
- Article date:
- October 10, 2005
CopyrightCOPYRIGHT 2005 Business Wire. 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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LINCOLNSHIRE, Ill. -- U.S. companies continue to face significant health care cost increases, but 2005's is the lowest rate increase in six years, according to global human resources services firm Hewitt Associates (NYSE:HEW). For 2006, Hewitt is projecting a 9.9 percent average increase for employers, following 2005's 9.2 percent increase.
Employees' contributions for health care have steadily increased, nearly doubling since 2002 (see attached charts). Hewitt projects that the average employee contribution(1) for 2006 will be $1,612, representing 20 percent of the overall health care premium, and up from $1,444 in 2005.
In addition to significant ...