Study takes aim at employer-sponsored health insurance
The Affordable Care Act has created a degree of uncertainty surrounding the issue of employer sponsored health insurance. The law is slated to make significant changes to the U.S. health care system, but the majority of these changes will not go into effect until 2014. The law was passed in 2010, providing ample time for worry and concern to take root in consumers and businesses alike. A recent study from Towers Watson, a leading professional services firm, takes aim at the issue of employer-sponsored health insurance.
Study shows majority of companies plan to continue offering health benefits to workers
The study was conducted by Towers Watson on behalf of the National Business Group on Health. The study accounts for data collected from 440 companies throughout the U.S. representing some 6.6 million employees. According to the study, approximately 88% of companies said they planned to continue offering health insurance benefits to employees. Roughly 77% of these companies said these health insurance benefits were integral to rewarding and retaining workers.
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Uncertainty creates worry over impact of Affordable Care Act
In the wake of the passage of the Affordable Care Act, the issue of employer sponsored health insurance was cause for concern for many people. Speculation suggested that the law would make health insurance policies exceedingly expensive for companies, discouraging them from offering benefits to workers. Some studies had suggested that this would not be the case, but such information is often cast aside due to the severity of concerns regarding the issue. The Towers Watson study shows that even though companies will have the opportunity to stop providing employees with health insurance without facing repercussions, very few have plans to do so.
Employers could shuffle workers to health insurance exchanges
Through the Affordable Care Act, employers have a chance to move workers to health insurance exchanges. These exchanges will be an integral part of the health insurance system in each state. Consumers will be able to find policies suiting their needs through these systems, but will likely pay more for these policies compared to those they would receive through employer sponsored health insurance coverage.