Health Insurance Headaches
The bad news is, operating costs such as energy/utilities, employee health insurance and paper are escalating, up by 7.8 percent compared to last year. “The need to focus on cost-control and productivity gains is as strong as ever,” Davis observed. “Just for health insurance alone, costs are up 9.2 percent over the past 12 months, and wages and salaries are also rising fairly significantly at 4.3 percent. About 2 percent to 3 percent of total sales now go to pay for employee health-care cost, so it is a significant cost issue for printers,” he continued. “I believe that health-care costs will continue to increase at a faster pace than overall costs, and it will remain a problem for both firms and employees, as more and more of the costs will be off-loaded to employees.”
- Companies:
- Printing Industries of America, Inc.
- People:
- Chuck Rollins
- Ronnie H. Davis
- Places:
- Sewickley, Pa.
- United States