Frustrated By The Cost Of Providing Insurance Coverage?
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Businesses: Health Care Impacts Your Ability To Invest
The high cost of health care weighs on New Jersey’s businesses. Money spent by employers to provide coverage means less to invest in growing their businesses or hiring more workers.
Business owners across the nation are challenged with the same problem. “Randy Bradley (owns a Burger King franchise in Iowa) has pushed back against the company’s pleas to spend $400,000 to update the outlet to the chain’s latest design ahead of schedule. He says sales are down this year even while he’s grappling with higher healthcare premiums and the prospect of increased labor costs as a result of the new overtime rule.” 
“Five consecutive years of double-digit premium increases have hit the business community hard, especially smaller firms. According to National Association of Manufacturers (NAM) Executive Vice President Jay Timmons, any healthcare reform needs to enable employers to continue offering flexible health benefits without increasing the cost of doing business. Since 1999, employer-sponsored health coverage premiums have increased by 119 percent, says Timmons, placing increasing cost burdens on employers and workers. Costs are soaring out of control, and these rising costs limit employers’ ability to re-invest in their business.” 
A Harris Poll commissioned by Castlight Health concludes that “90 percent of company leaders said they could invest more in their business if the company’s health care costs were lower, and 93 percent agreed the rising cost of health care gives foreign companies a competitive advantage.” 
Have you also been unable to invest in your business because of health care costs? Tell us about it: Share Your Story.
Labor: High Health Care Costs Make It Harder For You To Attract Workers
High health care costs not only impact businesses financially, but they can make it that much harder to recruit quality, skilled employees. Labor leaders across New Jersey have stressed what the strain of these costs means for them:
“We provide the best health care we can, not only because it is what our membership deserves, but also so we can attract the most talented people in the industry to our union. We do this while being ever mindful of cost, in an effort to remain as competitive as possible in an extremely cost conscious industry. This allows us to employ as many of our members as possible. Baring all of this in mind while managing our member’s health benefits is never easy. Each year brings newer and greater difficulties, as costs constantly rise with seemingly no end in sight.
These costs continue to rise, in part, because we do not have enough healthcare options in New Jersey. The problem is not just that this system hasn’t worked, it’s that the system hasn’t changed. Far too often when some have tried to suggest or implement a new or different way of doing things, they have been attacked for their innovation.
My membership and our Health Fund, literally, can no longer afford to continue under this approach. The men and women of Plumbers Local 24 work very hard at difficult jobs to support themselves and provide a good life for their families. Each dollar we spend on healthcare is money our member’s paychecks, pensions and training funds are deprived of. Each dollar spent on Healthcare makes us and our contracting partners less competitive. My members and indeed all New Jersey residents, deserve to have more, not fewer, healthcare options.”
-Eric Boyce, Assistant Administrator of the Plumbers and Pipefitters National Pension Plan
How Did New Jersey Get Here?
For the first decade of this century, health care costs were soaring every year.
In fact, from 2000-2010 the average cost to provide health insurance for a single person nearly doubled.
Sources: Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group, at http://www.cms.hhs.gov/NationalHealthExpendData/ (see Historical; NHE summary including share of GDP, CY 1960-2010; file nhegdp10.zip).
New Jersey Health Care Costs…How Much Are You Spending?
Average New Jersey health care costs are high enough, but are your costs even higher? Share your story.
Changing Health Care Landscape
A 2015 survey by Alavere Health shows that health plans are expressing greater interest in entering into outcomes-based contracts
Employers Are Turning To Patient Centered Care
As New Jersey’s health care landscape continues to change, employers are still struggling with costs. More and more, however, employers are turning towards patient centered, or value based, care to help with difficult economic times.
Take Action Now <span>To Get NJ Health Care On The Right Track.</span>
- New Jersey pays the 2nd highest costs for health care in the country. 
- New Jersey residents also tend to use more medical care compared to residents in other areas of the U.S. 
- Surprise medical billing is estimated to be a $1 billion problem that drives up premium costs for all policyholders in New Jersey. 
It is time New Jersey changes its health care system. Let your legislators know you want a health care system that costs less and focuses on what is best for you.