Study: Many Employers Will Cut Back On Health Plans When Overhaul Kicks In
A report by McKinsey & Co. concluded that at least 30 percent of employers will stop offering health insurance in 2014. The projection is based on a survey of more than 1,300 businesses of various sizes and industries.
The Wall Street Journal: Study Sees Cuts To Health Plans
A report by McKinsey & Co. has found that 30% of employers are likely to stop offering workers health insurance after the bulk of the Obama administration's health overhaul takes effect in 2014. The findings come as a growing number of employers are seeking waivers from an early provision in the overhaul that requires them to enrich their benefits this year. At the end of April, the administration had granted 1,372 employers, unions and insurance companies one-year exemptions from the law's requirement that they not cap annual benefit payouts below $750,000 per person a year (Adamy, 6/8).
Reuters: Many U.S. Employers To Drop Health Benefits, McKinsey Says
At least 30 percent of employers are likely to stop offering health insurance once provisions of the U.S. health care reform law kick in in 2014, according to a study by consultant McKinsey. McKinsey, which based its projection on a survey of more than 1,300 employers of various sizes and industries and other proprietary research, found that 30 percent of employers will "definitely" or "probably" stop offering coverage in the years after 2014, when new medical insurance exchanges are supposed to be up and running (6/7).
National Journal: Report: Reform May Move Millions More Off Employer Insurance
The more a company knows about coming changes to the nation's health care laws, the more likely it is to consider radically restructuring the way it provides insurance to employees, according to a study by the consulting firm McKinsey and Co. The study, which is being circulated among Republicans, predicts that as many as 30 percent of companies will stop offering health insurance benefits, reduce the level of benefits, or offer benefits only to certain employees. If this prediction holds, the number of Americans who could see changes to their health insurance would be far more than the 9 million to 10 million estimated by the Congressional Budget Office (Ambinder, 6/7).