We Have to Bear the Brunt of Health Care: Kathwari

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Feb. 18 (Bloomberg) –- Ethan Allen CEO Farooq Kathwari and Bloomberg’s Nela Richardson discuss Obamacare and health care costs. They speak with Stephanie Ruhle and Matt Miller on Bloomberg Television’s “Market Makers.” (Source: Bloomberg)

The uninsured.

The question of whether or not we can rein in the expenditures is something altogether different.

Employee sponsored health care is the bedrock of the united states system.

We spend $2.8 trillion on health care costs.

That is in an environment that has slowing growth overall.

What happens when the economy picks up?

That is the question that people are tracking it now.

Employee sponsored health care, you're seeing more and more stories about to pick up a bigger part of the tab.

Is that on purpose?

Is that a way we can curb costs?

It doesn't seem to help the middle class.

It is way to shift costs and not curb them.

Health care premiums have gone up over 100% over the past decade.

It is debatable if the reforms taking place.

These are mostly to medicaid.

They will be subsidizing the uninsured.

The u.s. is paying about two and a half times what other companies -- countries pay.

We are getting a lot less bang for our buck.

You still don't have universal health care like most countries do.

This is still an ongoing fact of life.

It is not near completion yet.

I did we have to look at the overall structure.

The structure we have, we are about 35% of the cost is for administering the billing.

In a country like ours we have to take care of people who can't afford it.

It got to take care of people.

The system we have today has a vested interest.

We are the ones that have to burner -- bear the brunt of all this.

Are you started to feel the pressure on cutting back employees?

You need to focus on the bottom line.

We are using tremendous amount of our donation.

We have to.

That is what it is.

Technology is very important.

We have brought tremendous them -- technology into our manufacturing.

70% of our manufacturing goes on in the united states.

We have health care and affects everyone.

You talk about the fact that the increase has slowed.

We're looking at about four percent now.

Maybe the idea of shifting the costs onto consumers from companies in some part is being done.

In some part it may be psychological.

It is kept people from using the system as much as they have in the past.

That could be.

Health care costs peak in 2002. it has flatlined.

That is because private expenditures slowed.

Government spending has slowed.

-- with the affordable care act.

Federal money will pick up.

We don't know how this is all going to shake out.

At the end of the day, people need health care.

Society has to figure out how to pay for it.

We have an aging population.

Thank you very much.

This text has been automatically generated. It may not be 100% accurate.

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