Private health insurance...bye bye...

[billc]

Here is a look at the trend of employers dropping health coverage for their employees once obamacare kicks in. Don't say you weren't warned...

http://dailycaller.com/2012/05/01/report-companies-likely-to-save-billions-dumping-employee-health-care/

Based on an analysis of health care data received from 71 of the America’s Fortune 100 companies, the report found that if the companies terminate insurance coverage in favor of paying the $2,000 per employee penalty, they would incur a financial benefit.
According to the report, companies surveyed would save on average $400 million — or a total of $28.6 billion in 2014 — simply by putting their employees on the government exchanges.
Between 2014 and 2023, the report says, the average savings per company would be nearly $6 billion, a total savings of $422.4 billion.
“These employers spent an average of $5,197 on health insurance benefits, after taxes, per employee in 2011,” the report reads. “In 2014, this average would increase to $6,487 per employee, which far exceeds the $2,000 per full-time employee penalty they would pay for not offerin coverage under the Democrats’ health care law. One Fortune 100 company could save more than $3.5 billion in 2014 alone, while another could save $1.8 billion. Four companies could save in excess of $1 billion in 2014 if they dropped health coverage and paid the mandate penalty.”

Anyone who gets insurance through their job should be worried about what will happen next, because there is a distinct financial incentive for employers to terminate health care coverage under the Democrats’ health care law,” he added. “It is clear to me that because of this law, Americans will not be able to keep the health care plan they have and like. American workers and taxpayers simply cannot afford to have this law remain on the books.”

 

[Steve]

Here is a look at the trend of employers dropping health coverage for their employees once obamacare kicks in. Don't say you weren't warned...

http://dailycaller.com/2012/05/01/report-companies-likely-to-save-billions-dumping-employee-health-care/

Maybe that'll be what we need to kick us over to single payer. About time.

 

[billc]

That was the plan from the start Steve.

 

[WC_lun]

Personally, I'd be all for private insurance going by the wyside in leu of a single payer system. However, that isn't likely, and like most links you post Billi, this is misleading. The current healthcare reform consist primarily of private insurance companies. The companies are in a pool where the consumer chooses from private insurance companies. The health care reform is actually a boon for private insurance companies since insurance is mandatory, though weak as that part of the plan is. So, while they may not be able to contimue to charge outragious premiums, they more than make up for it through number of customers. There is no socialized insurance company controlled by the government, unless you count Medicare. I know that doesn't fit into the current talking points, but that is the base truth.

 

[Steve]

That was the plan from the start Steve.

While I'd like to think that, you're giving them too much credit. To think that Obama engineered the situation to get us what we actually should have despite the toxic political climate and fearmongering would be an indication that he is a master strategist. I didn't know you had so much respect for him.

National Healthcare, here we come!!!

 

[WC_lun]

LOL Steve. You are totally right. If Obama planned all this from the start, he is one master strategist and one VERY smart dude. It'd be hard not to vote for him, knowing how effective he is now.

 

[oftheherd1]

...

The health care reform is actually a boon for private insurance companies since insurance is mandatory, though weak as that part of the plan is. So, while they may not be able to contimue to charge outragious premiums, they more than make up for it through number of customers.

...

Exactly so!

But there is still the possibility that non-health-insurance companies might find it more advantageous to stop providing company health care as a benefit if they would only be fined $2000 per employee, and providing that benefit would cost them more. I have to admit I haven't read the law, so I don't know if there is something there that would prevent that or not.

 

[Carol]

Exactly so!

But there is still the possibility that non-health-insurance companies might find it more advantageous to stop providing company health care as a benefit if they would only be fined $2000 per employee, and providing that benefit would cost them more. I have to admit I haven't read the law, so I don't know if there is something there that would prevent that or not.

$2000? Thats it? As a single person with no dependents, my insurance costs my employer a lot more than 2000. Add the people that have spouses and or kids...and that number goes up even further.

 

[WC_lun]

This is a concern, though companies that provide health care recieve a tax break, so in the end it is more than $2000. I do not know if that amount is enough to make a difference or not.