Success Ezine - Some huge employee health insurance changes are on its way and may come into effect in the next year or two. The impact of the changes will be felt by quite a few industries but the others can expect to continue business as usual. The federal and the state government expects to introduce insurance exchanges from early next year for families to buy a health policy.
Federal and state government are planning to initiate healthcare opportunities for the families in the US. So, the families from the beginning of the next year may be able to buy a separate health insurance other than that of the plan offered by the employer. For this purpose several insurance exchanges will be introduced. In addition, the families which fall under the low income or the middle income range, may get an additional advantage. Federal subsidies will be provided to such eligible families, which again is going to help in the reduction of the out of pocket costs and premiums.
The main qualifying criteria for the exchange plans is that the workers should not have any affordable insurance plan with the employer. It is rather the employer who will have to create the subsidy opportunity for the middle and the low income workers. This can happen only if the employer fails to provide low cost health insurance to the employee.
Therefore, it is expected that some employers will have to do away with most of the health policies on offer.
This in all probabilities is going to have an adverse effect on the high income employees. That is because, such employees would be required to buy high cost health insurance policies for themselves. They will no more be able to enjoy the tax advantages which were associated with such health policies.
The companies will be in a serious dilemma and pressure. The high income employees will ask the business to retain the policies. On the other hand, the middle or the low income employees will ask the employer to scrap the health policies.
The already rising premium amounts and the other additional costs had lowered the popularity of the health insurance with the employers. There are quite a few businesses and companies who may have done away with most of the offers. Now, with this new program on the way, there is further furore on the provision of health insurance. So, many others are contemplating a total removal of the health policies and plans.
The industries which may still be able to continue with their health policies are the likes of the banking sector, the colleges and the utilities.
Research shows that at least 80 percent of the employees from these sectors, get better deals with regards to the employer offers in comparison to the ones which may be on offer by the exchange plans. This is because, the families of the employees working in this sector have more than 3 times income than that of the poverty line.
On the other hand, the industries like those of the construction, restaurants, administrative and waste services and the ones which offer leisure and hospitality show mixed employers. So, most of the employers may do away with their health plan offers in the next few years.
However, this would not be of much problem for those who come under the radar of low income and the middle income families. if the employers drop the health plans, they will soon be eligible for the ones on offer by the insurance exchanges. As per research, the families which may be eligible for the subsidies and the healthcare plans through state and federal government are almost 45 to 60%.
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