Financial executives are worried about the rising cost of
health care and many are implementing measures that will shift more of the
burden of increasing costs to workers.
A new survey by the American Institute of Certified Public
Accountants found that 91 percent of financial executives polled had concerns
about rising health care costs, and 81 percent reported employee health care
costs at their companies had increased anywhere from 5 percent to 20 percent
during the past year.
John F. Morrow, AICPA vice president of business, industry
and government, said that rising health care costs have long been an issue for
companies both large and small, but companies were reluctant to reduce the level
of benefits to workers.
“In an effort to contain soaring health care costs, most
organizations are trying a variety of strategies, including offering
high-deductible consumer-driven plans, changing providers or reducing company
contributions,” Morrow says. These measures shift some costs to employees, but
in most cases maintain the level of benefits.
Morrow adds it was a positive sign that only 7 percent of the
survey respondents indicated that they were reducing benefits to their
employees, even in the face of surging health care costs.
Filed by Matthew Scott of Financial Week, a sister publication of
Workforce Management. To comment,
e-mail editors@workforce.com.