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Health-Care Costs a Drag on Economy
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Business New Haven
11/25/2002
By: BNH
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Rising health benefit costs have become a key factor in business decisions to hire - or defer hiring - new workers or expand facilities in the state. So says the latest annual survey by the Connecticut Business & Industry Association. Eighty-two percent of responding companies said rising health-care costs factoring into their hiring decisions, while 75 percent said the same costs influenced expansion decisions.
Nearly all employers (94 percent) reported cost increases in 2002, with 92 percent of these reporting at least double-digit cost hikes. Nevertheless, fewer than two percent of responding companies eliminated health-care coverage this year as a consequence of rising costs, according to the survey, answered by about 1,000 CBIA member companies.
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