Californians to Pay Billions to Cover Costs of New $25 Minimum Health Care Wage Law

California analysts and health care experts are warning that a new law mandating $25 per hour minimum wages in the industry will cost more than $4 billion per year in state and federal expenditures while raising prices for patients and having additional economic impacts totaling billions of dollars annually. “Increasing the pay for …  health care workers will cause an additional financial burden on organizations already facing financial challenges,” Genaro Grajeda, CEO of HealthPact—a California-based company offering professional services to health care providers, told The Epoch Times. Signed by Gov. Gavin Newsom on the last day to pass legislation this year, Senate Bill 525, authored by Sen. María Elena Durazo (D-Los Angeles), raises the minimum wage for such employees, including janitors and gift shop workers, from about $15 to $25 by June 1, 2025 for employers with more than 10,000 employees. Others with government ties have until 2033 to make the change....