Nearly three-quarters (71%) of mid-sized to large companies intend to keep their health insurance plans in place for 2012, according to a new Towers Watson survey.
Exactly 53% of survey participants said they expect the health reform law, the Patient Protection and Affordable Care Act, passed in March 2010, to be fully implemented, as planned, in January 2014. At that time, individuals will be mandated to buy coverage and employers will be forced to provide coverage. In either group, those who fail to follow the mandate face fines.
About 53% of employers said they expect to trigger the health reform excise tax by 2018, meaning they will pay the fine, rather than provide coverage.
The average rate increase for health premiums expected for next year is 5.9%, a decrease from the 7.6% from this year, according to the 368 business owners surveyed.
The vast majority of employers (88%) are planning to take steps to control their costs and avoid the impact of the federal health reform law’s excise tax.
About half (45%) of respondents plan to rethink their long-term health care strategy during 2012, and many are uncertain how they will respond to the looming impact of state-based insurance exchanges in 2014.
Exactly 29% of respondents said they were unsure about whether they will continue sponsorship or offset the loss of health care benefits (if they exit) with an equivalent salary increase. F
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Tags: Large Companies, Plans
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