Survey: 61 Percent Of Employers Expect Health Law To Drive Up Health Plan Costs
The survey, conducted by the Mercer consulting firm, found that retail and hospitality companies are bracing for the biggest cost increases.
Los Angeles Times: Survey: 61% Of Employers Expect Cost Increase From Healthcare Law
More than 60% of employers in a new survey anticipate some increase in their health benefit costs due to the federal Affordable Care Act. The survey of 1,203 employers by the Mercer consulting firm found that 20% of those businesses expect an increase of 5% or more (Terhune, 8/8).
Politico: Businesses Brace For Health Care Cost Increase, Report Says
Nearly two-thirds of employers expect to see a cost hike in their health plans when the Affordable Care Act goes into effect in 2014, and a quarter say they will have to make changes to their coverage to avoid penalties, according to the survey by the Mercer consulting firm. Retail and hospitality industries, which typically employ larger numbers of part-time workers, are bracing for the biggest increase in costs — 46 percent said they’re expecting costs to increase by a minimum of 3 percent. The health care industry is close behind, with 40 percent expecting that increase in costs (Smith, 8/8).
Modern Healthcare: Retailers And Hospitality Industry Employers Face Big Healthcare Reform Cost Increases: Mercer
Employers in the retail and hospitality industries face the greatest cost increases when provisions of the healthcare reform law imposing financial penalties on employers that do not offer qualified coverage go into effect in 2014, according to a survey released Wednesday. Forty-six percent of employers in the retail and hospitality industries and 40% of employers in the health care services industry expect health care cost increases of at least 3% due to health care reform law requirements, according to the Mercer L.L.C. survey of 1,203 employers (Geisel, 8/8).
In other health business news -
Bloomberg: Assurant Cited Most By U.S. For Excessive Health Premium Rates
Assurant Inc. (AIZ), the insurer adjusting rates for New York homeowners after regulators challenged its prices, has been cited by the U.S. for "unreasonable" health premium increases more times than any competitor. Assurant units raised premiums in excess of 10 percent on individual health plans 31 times in 12 states since October, according to documents provided by the U.S. Center for Consumer Information and Insurance Oversight. The greatest increase was 24 percent on plans covering 17,666 people in Wisconsin in May (Wayne, 8/9).