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Article: Can health insurance costs be controlled? (Symposium: Health Care)
- Article from:
- Review of Business
- Article date:
- December 22, 1992
- Author:
CopyrightCOPYRIGHT 1992 St. John's University, College of Business Administration. 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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Health care insurance has been available to employees for more than fifty years. Initially, health insurance benefits were inexpensive, offered 100 percent coverage, had few constraints, and were either free to employees or were offered at a very low cost.
Health care insurance is no longer inexpensive. Health care costs have increased the cost of medical insurance.|1~ "The cost of corporate health care has risen from less than five percent of payroll in 1980 to more than fourteen percent of payroll in 1991."|2~ In 1990, employee health benefits equaled twenty-six percent of the average U.S. company's net earnings. Today over $600 billion is spent annually on health ...