The share of total U.S. employee compensation spent on benefits increased sharply between 2000 and 2007.
Researchers at the Employee Benefit Research Institute, Washington, have reported that finding in a study based on U.S. Bureau of Economic Analysis data.
Total compensation increased to $7.8 trillion, from $5.8 trillion, between 2000 and 2007, and benefits spending increased to $1.5 trillion, from $953 trillion.
The percentage of total spending allocated to benefits increased to 19%, from 16%.
Retirement spending increased to $694 billion, from $459 billion, and health benefits spending increased to $623 billion, from $400 billion.
Group health plans accounted for $532 billion of 2007 benefits spending, up from $331 billion in 2000, the EBRI researchers report.
Military health insurance and Medicare hospital coverage accounted for the remainder of the spending.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.