Cost Effective Health Funding
Controlling the escalating cost of health care in the coming decade will be a major challenge. Health care expenditures for electrical contractors and the nation gace increased at double digit rates for the last four years. In spite of the efforts to control costs, health and welfare contributions for unionized electricians are now 12 percent of wages.
This study, based upon information collected from health and welfare funds abd individual contractors, has initialized a data base of health care information in the electrical industry. It establishes a benchmark for the industry to measure status and future change, provides a means for identifying more cost favorable fund structures and serves as a beginning for more cost effectively providing benefits in the next decade. The focus is on multi-employer health and welfare programs, but its scope also includes company based plans covering craft and/or salaried employees.