health insurance costs

Every company and Corporation wants to find ways to cut expenses, and it is becoming apparently clear that one of the fastest-growing costs is health care. In fact health care expenses and costs have outpaced inflation by a factor of 10 over the last decade. And if you thought things were going to get better with Obama Care, it appears that things have only gone up since then, and will probably continue to climb.

There are a number of reasons for this and many that were not factored in by the congressmen and women who voted for this. Yes and the OMB which promised we would lower our government’s cost, health care, and the politician’s promises that they would lower our personal costs. Most voters currently are not amused, and most corporations after figuring out what it will really costs them, have taken a one-time charge against their quarterly profits.

A recent article in the Wall Street Journal noted that for many employers it would be cheaper to pay the fine than to actually insure their employees for health care. For instance, the article stated “If AT&T stopped health care for their 283,000 employees it would have to pay $600 million in fines. However it would reap the rewards of saving at least $1.8 billion over the next decade.” Companies such as Caterpillar, General Electric, and AT&T shocked Wall Street with their estimates of what the new Obama Care would cost their companies.

Well prior to the ObamaCare passage there was an interesting article in business week on November 23, 2009. It was an article by Catherine Arnst titled;

“10 Ways to Cut Health Care Costs Right Now – Employers and Hospitals Don’t Have To Wait for Congress to Address Inefficiencies and Waste”

In this article the author suggests “cracking down on fraud and abuse, developing a healthy workforce, coordinate care through family doctors, make health a community effort, stop infections in hospitals, get patients to take their medicine, discuss options near end of life, use insurance to manage chronic disease, let well-informed patients decide end of life issues, and apologize to the patient.”

These do indeed sound like great ideas, unfortunately many of them were not addressed in ObamaCare, and therefore they still remain problematic. The MSRA virus is a huge cost, and it is true that people are completely out of shape in America, and there are far too many malpractice lawsuits, which could have been prevented, merely by apologizing to the patient, and explaining what happened and why.

In reality, there is probably no good way to cut the health care costs or the insurance cost for your company or Corporation, because they are skyrocketing at such a huge rate, that even if you cut some costs now, you will still be paying more for insurance and healthcare well into the future, we all will. Therefore, it might just be worth paying the fines, rather than insuring or providing health care for your employees, this is definitely something to think about.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes in good quality, and truthful articles. http://www.bloggingcontent.net.

Note: All of Lance Winslow’s articles are written by him, not by Automated Software, any Computer Program, or Artificially Intelligent Software. None of his articles are outsourced, PLR Content or written by ghost writers.