Boom Shocka Locka

Rising health care costs are the single biggest economic concern facing American businesses, according to a survey of business leaders released today by Business Forward.

Nearly 90% of those polled cite health care costs as a major concern, more than cite taxes, government regulation, labor costs or energy costs.

Without reform, 86% of those polled believe that health care costs will continue to rise in the next five years, and 55% believe it will go up “a lot.” If costs continue to rise as expected, nearly 9 out of 10 business leaders expect to raise their employees’ deductibles and copayments. Nearly 8 out of 10 expect to cut benefits. And nearly one in three expects to lay off employees. (emphases mine)