Companies to Raise Employee Health Insurance in 2011 Submitted by KC Kelly Ph.D. on 2010-08-19
Companies will be increasing health insurance premiums for their workers beginning 2011. As if things weren't bad enough in the economy today with high unemployment rates and companies reducing their health insurance rates for those who still have their jobs, according to Bloomberg.
Bloomberg has just officially announced that next year will mark an increase in health insurance premiums and the amount employees will have to pay to keep their company's health insurance plans. This is due to the US companies preparation for a federal new law that has been signed by President Obama. Most companies will be implementing new higher insurance premium health plans.
Not all companies will be participating in raising health insurance premiums, but it will affect approximately sixty-three percent of businesses. These businesses plan, by 2011, to mandate that their employees pay a higher percentage of their premium costs. A survey conducted by the National Business Group on Health showed that forty-six percent of companies plan to raise out of pocket costs for their employees. This was based on a survey which included seventy-two companies that employee more than 3.7 million people.
Igor Volsky, a researcher at the Center for American Progress, which supported this new law from Obama, stated that "The companies, each of which has at least 5,000 workers, expect health-benefit costs to rise 7 percent this year, half a percentage point higher than employers estimated in a separate survey released by the National Business Group on Health and the consulting firm Towers Watson & Co. in March."
Employees will be able to adjust their health insurance plans to help the affordability of their new health insurance plans, according to Jessica Santillo, a Department of Health and Human Services spokeswoman.
In order to help their employees with increasing health care premiums, they are willing to offer an increase in insurance with high deductibles paired with tax-free health savings accounts. Approximately ten percent of companies already have implemented these insurance rate hikes, while twenty percent will replace their current offerings with the higher rate plans in 2011.
Companies will be increasing health insurance premiums for their workers beginning 2011.
WOW! Companies increase health insurance premiums.... THAT HAS NEVER HAPPENED BEFORE! It must be OBAMA CARE!!!
NOTE:... It's NEWS, when companies DON'T raise their health care premiums... not the other way around.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
It thought Obamacare was supposed to LOWER the cost of health insurance?
Before it LOWERS cost, it has to BEGIN!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Same way the credit card companies all raised their rates when they got the six month notices of federal govt "reforms" ... Try getting a Citi or Chase card now with a credit score below 720 ... aint happening.
I have talked to many businesses...both large and small and they are all either doing away with private coverage OR they are raising the employees contribution OR they are passing the increase on to the consumer!
No matter how ya cut it..........we the middle class people will be getting it up the a$$ big time! Now that's change you can believe in!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
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