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Auto Suppliers Health Costs To Soar 60 Percent by 2010

"U.S. auto suppliers, who employ eight out of 10 workers in U.S. auto manufacturing, are now paying 60 percent more for employee health care than five years ago. They can expect their health costs to rise an additional 60% by 2010, unless solutions are implemented," according to Sean McAlinden, vice president of research for the Center for Automotive Research, (CAR)..

He stated these figures in a CAR press release.

His figures are from a survey of suppliers, funded by the Ernst & Young Global Automotive Center, that indicates despite a wide range of efforts from better purchasing leverage over health care vendors to employee cost sharing, suppliers continue to expect double-digit annual health care inflation through 2010. Thirty-seven member companies from the Original Equipment Suppliers Association, (OESA), were surveyed.

"Health care expenditures will remain an important competitive issue for suppliers," said David Andrea, vice president of business development, OESA. "The suppliers are stepping up their efforts to better manage their purchased health care services, asking their employees to share coverage, and looking for alternative models such as association programs."

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Posted by: Duncan Kinder on Jul 26, 05 | 12:44 am | Profile


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