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Rising health care costs may be putting American businesses at a disadvantage compared to firms overseas, according to a new study.
In the U.S. health care system, 60 percent of all residents are covered by employer-sponsored health insurance. This may increase the risk that the U.S. will lose good jobs to companies in other countries.
U.S. firms spent twice as much on health care in 2005 as their foreign competitors. U.S. companies spent $2.38 per hour for every American worker making $18 an hour. In contrast, firms in Canada, Japan, Germany, the United Kingdom and France spent only 96 cents each hour for a worker making $20 per hour.
The average worker contribution for family health insurance has also increased by a staggering 102 percent since 2000.
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