Rise in health costs predicted as more workers given benefits

More than 60 percent of employers in a new survey anticipate some increase in their costs for health benefits tied to the federal Affordable Care Act.

The survey of 1,203 employers by the Mercer consulting firm found that 20 percent of those businesses expect an increase of 5 percent or more.

The firm said employers in retail and hospitality, which often have large numbers of part-time and lower-paid workers, will be among those most affected when the law takes full effect in 2014. Employers will be required to extend coverage to all employees working 30 hours or more per week.

Overall, 6 percent of employers surveyed said they were likely to stop providing health benefits after government-run insurance exchanges open in 2014. That rose to 9 percent among retail and hospitality employers.

Prices for new cars settle down

New car prices have stabilized after rising quickly coming out of the recent recession, a new report shows.

A study by market research firm J.D. Power and Associates found that the average transaction price for a new automobile year-to-date is $28,013, down slightly from the $28,337 logged for all of last year.

The price drop is the first since 2008. The average transaction price increased 11 percent between 2008 and last year as drivers of aging cars bought new vehicles and manufacturers slashed sales incentives.