A study by Hewitt Associates forecasts that absent change, U.S. companies providing health insurance will face an annual bill of $28,530 per employee by 2019 — almost three times more than the $10,700 cost in 2009.
That leaves U.S. multinationals and exporters at a huge disadvantage because their foreign competitors in developed economies don’t provide health insurance to their workers. Instead, medical care is funded by the government.
As a report by the Business Roundtable said, “America’s businesses cannot win in the marketplace when bidding against global companies [that are] shouldering significantly lower health-care cost burdens.”
In other words, U.S. companies will lose sales, lessening the need for more U.S.-based labor.