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March 23, 2005

$600 Pay Cut for Families Since 2003

As employers continue to increase the share of health care premiums paid for by employees, the result has been a massive cut in take home pay for workers. For families, in large and medium companies, their share has increased to $2800 per year from $2200 just two years ago in 2003.

That's a $600 pay cut via health care costs.

Some will argue that employees are getting "more" health care, since premiums are going up, but that just highlights the silliness of saying inflation is low. Two of the largest expenses for families -- medical costs and housing prices -- are skyrocketing, yet the real effects of these costs on family income aren't fully reflected in inflation measures or in measures of the real take-home pay of workers.

Posted by Nathan at March 23, 2005 07:03 AM