Workers may no longer need to fear continuing spikes in out of pocket costs.
In the pre-health care reforms environment, it had become a significant trend among small businesses to repeatedly hike deductibles and other costs that their workers were required to pay out of pocket in order to ensure that they would be able to continue to offer medical insurance in as coverage prices continue to rise.
Now, the Affordable Care Act will limit the amount of cost that employers will be able to shift to workers.
The federal health care reforms law has created a form of cap on the amount of cost that can be passed on from employers to their employees. To be able to conform with these new limits is causing many small businesses to wonder how much the cost of medical coverage will rise, and whether it will bring the expense to a level that they will no longer be able to afford.
The health care reforms were designed to make sure that all Americans will have access to coverage.
Though many are already benefitting from the changes that have been made to the system, and others are looking forward to the affordability and additional advantages that will occur on January 1, 2014, when the majority of the rest of the changes are implemented, some are also worried that their employer sponsored coverage could be at risk. They wonder whether their employer will be able to afford to continue offering coverage, or whether it will be more likely that they will be purchasing their own individual plan.
Among all of the states, it is the residents of Florida who have some of the worst odds of finding employment at a job that will bring them medical insurance. Over half of the 3.8 million residents of that state who are uninsured have at least a part time job. However, companies in Florida have identified health benefits as the second or third greatest expense, and the money that would be put toward that coverage will often make the difference between a profit or a loss.
The federal government has said that the health care reforms will also offer assistance and exceptions in certain situations. The details as to which companies would be eligible for this help have not yet been released.