When the Affordable Care Act (ACA) was enacted in 2010, economists and industry experts began to predict a massive change of health insurance to employer-sponsored individual health insurance.
Fast forward to 2015 and the ACA dust has settled. So what are the industry experts now say on the future of health insurance sponsored by employers? Here is an overview of the latest analysis on industry of health insurance .
Medicare Will drop of employers? And when?
Face increasing health costs , the retail market is now offering employers something he has not done before passage of the ACA --émission guarantee affordable coverage ,. As such, much of the buzz around the health insurance market was that employers drop expensive health insurance group and employee transition to individual coverage with or without a contribution from the employer.
recent research market continues to anticipate a change in health insurance to employer-sponsored individual health insurance, although when the majority of companies will make this switch still debated.
in May 2014, analysis by S & P Capital IQ provides that 0 percent of employees who currently receive health insurance through employers could be moved to the public and individual health insurance exchanges in 2020, now only five years away.
as well, Dr. Ezekiel Emanuel predicted in the book, "Reinventing American health care," that by 2025 less than 20 percent of workers in the private sector receive health insurance sponsored by traditional employer. given the majority (56 percent) of the non-elderly population still buy insurance health through work today this is a massive transition.
other reports, however, come to different conclusions. the Mercer national Survey of employer Sponsored health plans (2014) suggest the change may not be just around the corner. the report of Mercer, only four percent of all large employers say it is likely that they will terminate their health plans for employees over the next five years, down from 6 percent in 2013. And while small employers are more likely to go to individual health insurance, the number of employers with 50-199 employees say they are likely to abandon their plans fell 23% in 2013 to only 16% in 2014 instead, the report found increased measures to control cost overruns such as wellness programs, consumer directed health plans, and transfer costs.
Again, it can take only a few large companies to influence the market and create a tipping point. powers Recently we saw as Walmart, Target, Trader Joes, and Walgreens change some employees to individual models Medicare.
The impact of small businesses
Although most of the focus is on large companies, which are much more likely to offer health insurance coverage that small businesses, do not neglect the power of small businesses.
throughout the United States, small businesses have been quick to adopt models because of their affordability, accessibility of individual health insurance, and because the small employers are not mandated to offer group health insurance.
While large companies may be slower to drop health insurance sponsored by the employer, it is already becoming a norm with small businesses. In recent Whitepaper , we estimate that 60 percent of small businesses (fewer than 50 employees) will anyone reimbursement of health insurance in 2017.
the sensible solution?
When you look at the numbers, the decision to transition employees to the individual health insurance is a no-brainer economy. The immediate cost savings are obvious.
But as Brigham Young University professor David Cherrington stressed, it is not all about rational decisions. It is an emotional factor as well.
In Utah Business Cherrington said: "I am surprised that more companies were not immediately abandoned the whole game providing an advantage and went to unload it. [Employers could say] we will give you as much money and you can go to a federal exchange or exchange of state ... I personally am just surprised that taking rational decision did not eliminate health care the attitude of the employer. "
Conclusion
Is a change in employer health insurance going on? Yes. Small businesses are leading the way. When the transition to the individual health insurance will really hit the masses? While the exact timing is unknown, a tipping point will probably happen that large influential companies leading the way.
What do you think? companies will always have a transition away from health insurance sponsored by employers? Join the conversation in the comments below.
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