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Caterpillar Concerned with Current Health Care Plan

Caterpillar Inc. said the new healthcare plan currently in the US House of Representatives would increase the company’s health care costs by at least 20% or $100 Million dollars in just the first year of the proposed program.

“We can ill-afford cost increases that place us at a disadvantage versus our global competitors,” said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. “We are disappointed that efforts at reform have not addressed the cost concerns we’ve raised throughout the year.”

As more and more companies are coming out either for or against this plan, I continue to hope that each of us, including our employers continue to feel that QUALITY healthcare and prevention programs are the best ways to keep the costs low, by avoiding injuries and illnesses from progressing to a less manageable and more costly state.

How are you feeling about this issue?  Do you think that your employer would continue to offer healthcare plans as a benefit if premiums increased by 20%, or do you think you will end up covering the difference?

Source: Chicago Breaking Business News “Catepillar: Health Care Bill Would Cost it $100M” published March 19th

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