Thursday, May 20, 2010

For 40 years in 5 year incriments, what percentage of average gross salary was paid for medical coverage?

For 2005, Salary.com survey shows 14.6% of average gross salary paid by employers went toward medical (health, dental, vision) coverage. I would like to know how this compares for past years to know if costs are really going up as a percentage of salary or is this a smoke screen by business for employees to pay more for less coverage. If you compare costs for items from 40 years ago to the costs for those same items today, you will find that everything is 10 times greater except employees' salaries (ex: Home $25,000 1965 is $250,000 2005 - gas was $0.30/gal1965 and $3.00 2005 - small car $2,000 1965 and $20,000 2005 - Wonder Bread $0.20 1965 and $2.00 2005 ==%26gt; Minimum wage $1.25 per hour 1965 and $5.15 per hour 2005 - U.S. AWI $5,298.33/year and $35,648.55/year 2004). To compensate for lost buying power compared to those of the past, we now have spouses working to maintain our social/economic positions.

For 40 years in 5 year incriments, what percentage of average gross salary was paid for medical coverage?
way too much


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