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The Health Reimbursement Arrangement Alternative to the Rising Health Care Cost of Employers.
Member rating: No Rating | Words: | Submitted: Fri Apr 02 2004
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The Health Reimbursement Arrangement Alternative to the Rising Health Care Cost of Employers Donald E. Maier, II MGT 331 2 April 2004 Health benefit costs have been rising faster than inflation for the past four years (Logan, 2003). Employers' costs for their workers health benefits rose more than 10 percent per employee nationally during 2003, according to a report by Mercer Human Resource Consulting, as cited in Bizjournal.com (Durr, 2003), a total increase of more than 41 % since 1998. In real numbers, a 10 percent increase on a $2,000 monthly premium will, over four years, raise that premium to nearly $3,000. If the rate of increase is 20 percent, the monthly premiums will more than double. Faced with these increased health fees and a slow economy, businesses are finding different ways to meet these challenges. According to Mills (2003), today's employee benefit marketplace has made it increasingly more difficult for employers to...
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