WASHINGTON, Sept. 15 (UPI) -- Starbucks head Howard Schultz, whose company offers health insurance to its workers, says the nation is on a collision course as healthcare costs keep rising.
Schultz sounded his warning at meetings in Washington. He was joined by chief executive officers from Verizon, Costco, Honeywell and Pitney Bowes, all of whom offer health insurance to virtually all of its employees even in the face of sharply rising costs, the Seattle Post-Intelligencer reported.
They came to talk to lawmakers to jump-start efforts to control healthcare costs.
"We want to tell the story in a way that other companies can see that you can make money and do the right thing by taking care of your people," Schultz said at one of the meetings.
But he noted the nation is "on a collision course" as healthcare costs continue to rise, making it harder for companies like the Seattle-based Starbucks to continue offering insurance while also satisfying Wall Street's profit demands.
"What's perverse is that companies like ours who are doing the right thing are actually paying more," Schultz told the CNBC.
