Report: 30% of U.S. Companies Say They Will Drop Health Care Coverage Because of ObamaCare…
So much for Obama’s “you can keep your plan if you like it” promise.
LOS ANGELES (MarketWatch) — Once provisions of the Affordable Care Act start to kick in during 2014, at least three of every 10 employers will probably stop offering health coverage, a survey released Monday shows.
While only 7% of employees will be forced to switch to subsidized-exchange programs, at least 30% of companies say they will “definitely or probably” stop offering employer-sponsored coverage, according to the study published in McKinsey Quarterly.
The survey of 1,300 employers says those who are keenly aware of the health-reform measure probably are more likely to consider an alternative to employer-sponsored plans, with 50% to 60% in this group expected to make a change. It also found that for some, it makes more sense to switch.
“At least 30% of employers would gain economically from dropping coverage, even if they completely compensated employees for the change through other benefit offerings or higher salaries,” the study says.
It goes on to add: “Contrary to what employers assume, more than 85% of employees would remain at their jobs even if their employers stopped offering [employer-sponsored insurance], although about 60% would expect increased compensation.”
Posted by ZIP on Monday, June 6, 2011, at 7:15 pm | 
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Who didn’t see that coming?
I’ll say it again; there should be criminal consequences for Hope & Change.
You cannot legitimately change government by violating the existing rules of a state. That “Change” would be illegitimate.
.
Why would they? I mean would you put up with increased bureaucracy and oversight just to have healthcare. Can’t wait for the numbers of Hospitals that will close due to this.
3000 plus pages of custerfluck.
It’s going to be a real, true shock to many who currently have great insurance.
That’s what happens when you don’t pay attention. While all with insurance have paid for those who don’t through higher premiums, now all those folks who used to have good coverage will just get reliably crappier service as well. Yippee.
The “death panels”are the just the small stuff. Wait till inevitable doctor shortages happen and people have their care severely rationed, with no recourse, BECAUSE it’s the GOVERNMENT doing the choosing of who gets what treatment. This will not end well.
Everyone knew that “promise” held as much water as a statement from Weiner last week.
Lying, treasonous bastards ALL of them!
Seems the book I purchased a couple of years ago, is
going to be very useful.
Title is “Where There is No Doctor”.
Is there anyone out there that doesn’t believe that this was Oboy’s plan all along? This will lead to single payer which is what he wanted from the beginning. Almost everything he told us about Obamacare is a lie. In some instances he simply did not know the answer to questions about it but in many instances he lied.
smart move…
Price signals
This was the plan all along.
@ drjohn I agree. And single payer is the real goal. Let us pray it is repealed soon. I know our company took us to the wood shed this year in anticipation of implementation. It wasn’t pretty on the pocket book.
Gee didn’t see that coming… I mean really…
Single payer? Seriously? 2008: Top 53% pay 100% of all FEDERAL income taxes… bottom 47% pay $0.00.
2009 (latest numbers): Top 49% pay 100%..51% pay $0.00….
What are the 2010 numbers going to be 47/53, then 45/55 in this year? This welfare-in-chief needs to be defeated in 2012.
Well, then if business doesn’t like it, screw everybody else huh?
FTA: “Late Monday, an Obama administration official took issue with the study, saying that it is at odds with findings from the Congressional Budget Office, think-tank Rand Corp. and the Urban Institute. In an email response, the official wrote that when Massachusetts initiated its own reform, the number of individuals with employer-sponsored insurance increased.”
The trend since 2008 already has been employers dropping health coverage. The health insurance industry is a racket, it’s inherently collusive and non-competitive. It’s got Congress on the dole, even to the degree they have a special anti-competition law exemption so that they don’t have to compete with each other. By their own choice they have created a non-free market with extraordinarily high burdens to market entry for any competitor who’d be crazy enough to start a new insurance company. Private insurance is expensive because of numerous levels of middlemen all of whom expect a profit margin.
If ethical practice is expected and required, a single payer system whether private or public would be much more cost efficient than what we presently have. The issue is not so much private vs public, but rather what the conflicts of interest are and how those get mitigated.
Paz’s data is a lie. I’ll call it a lie because telling the truth is so easy to find from a credible source. http://www.cbo.gov/publications/collections/taxdistribution.cfm
The idea the bottom 50% pay $0 in federal income taxes is absurd and unprovable because it isn’t true. And once social security and medicare tax is included (for which there are no exemptions) the total tax burden is far from $0.
Let’s talk about some corporations who paid little to no taxes and yet got bailout money from TARP in the billions of dollars in just a few days before whining about someone who makes $9350 a year paying no income tax (but still paying FICA tax). Yes, to be exempt from paying income taxes you’d need to be making around $9350 if you use the standard deduction and one personal exemption. It’s not a lot of money. There’s a big difference flat taxing someone who makes $20,000 a year and someone who makes $1 million a year. You don’t end up with the same level of fairness using the same rate, and you wouldn’t collect the necessary revenue anyway.
The rod in the image at the top of this article is a Caduceus…a symbol of Hermes that has absolutely nothing to do with medicine. Notice the two snakes and the pair of wings.
The one you meant to use, I’m sure, was the Rod of Aesclepius, which only has one snake and no wings…it’s the symbol of the Greek god Aesclepius, a son of Apollo associated with medicine and healing.
Those two rods are very commonly confused. Even the U.S. Army Medical Corp has them mixed up on their official branch insignia.
Actually, this is somewhat disingenuous “reporting.” The fact is, the percentage of companies offering healthcare coverage of any kind as a benefit has been dropping for years. It was only offered in the first place because of previously imposed government ordered salary caps – offering lucrative benefits was a way to get around the caps. (Yes, in the US. Look it up.) Now the costs of health insurance and managing the benefits far exceeds the value to the company and employers are dropping insurance like hotcakes and will continue to do so – Obamacare actually has little to do with it. It might provide an added incentive, but there was already plenty of incentive. Getting rid of health coverage has been on many Board’s minds for some years. This is just a “clean” way to do it – saying single payer will be better (which it will).