Employees at the Indiana University can expect to start paying more for their health insurance next year. According to Neil Theobald, vice presidents and chief financial officer of the university, the school is unable to keep up with the pace at which insurance rates are being increased. The university is unwilling to cut health care benefits for its staff, so has introduced a new initiative that has earned some controversy. Next year, the cost of health insurance for university employees will be based upon how much they earn, as well…
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Survey shows workers often misinformed about costs of employer health insurance
A national survey conducted for eHealthInsurance between the months of September and October 2011, by Kelton Research, has shown that only 47 percent of participants who had employer-sponsored coverage are capable of stating with confidence the amount of their health insurance premiums that is covered by their salary and how much is paid by the employer. The survey also showed that 35 percent of the respondents who had employer-sponsored coverage were able to state how much the annual deductible for their plan was, and only 33 percent of the participants…
Read MoreStudy shows cost for employees for health insurance is set to rise
The findings of an Aon Hewitt study are showing that the average per-employee cost for health insurance will increase beyond the $10,000 mark in 2012, regardless of the fact that costs are rising more slowly than the current 2011 rate of 7.5 percent. The rate for healthcare premiums is expected to increase by 7 percent, but the actual cost of premiums for each employee is forecasted to be over $10,400. When compared to the 2010 figure of less than $9,800, the 2012 is notably higher. Workers will be responsible for…
Read MoreEnroll America embarks on a crusade to raise awareness of health insurance
With election year rapidly approaching, the issue of health care is getting more attention. While reform of the health care system is already well underway, few may be aware of their eligibility for federal health insurance programs. In an effort to raise awareness, Enroll America, a nonprofit consumer advocacy group, is embarking on a new campaign to help people understand the working of the new health care system and how they might be able to receive affordable insurance coverage. The campaign brings together a multitude of hospitals, insurance companies, pharmaceutical…
Read MorePalm Beach County seeks to help the uninsured find coverage
Those without insurance are at a heightened risk of being unable to pay for medical treatment that could save their lives. In years past, the issue has been well documented but few lawmakers have made moves to find a solution. The Affordable Care Act was meant to remedy the problem by expanding people’s access to insurance coverage. However, in Palm Beach County, Florida, the County Commission is calling for more aggressive action to be taken to ensure that state residents have access to the coverage they need. This week, the…
Read MoreThe cost of health insurance for low income families
Although the Affordable Healthcare for America Act by the Obama administration was created in order to make certain that a larger number of Americans will have access to health insurance, many are finding that the premiums are still too costly to be able to afford them. The Act has already gone through some significant improvements since its first creation, especially in terms of Medicare, as it has assisted in lowering those costs. That said, many Americans are still struggling to afford their current health insurance rates or remain without any…
Read MoreForecast predicts a third of companies will cut health benefits
A new study from prestigious consulting firm McKinsey & Company suggests that as much as 30% of the nation’s employers will be making drastic changes to the insurance they provide to their employees. The firm suggests that the more these companies learn about upcoming insurance changes stemming from last year’s Affordable Care Act the more likely they are to make such changes. The study anticipates that these businesses will cease offering health care benefits or restrict access to such benefits to a select few in their service. If the study…
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