Ten Percent Of Employers Likely To End Health Coverage For Employees

In yet another sign of impending doom in the US economy, a new survey shows that one out of every 10 mid to large size employer currently plan to stop offering health coverage to their “valued” employees when the new federal insurance exchanges begin operating in 2014.

The survey, which was done by Towers Watson, a large benefits consultant company in the United States, also indicates that a whopping 20% of the companies surveyed in July didn’t yet know what they will do in 2014.  71% have actually said they expect to continue offering benefits. It’s nice to see that 71% of the companies in the country actually DO value their employees and their health.

The federal insurance exchanges brought about by the Obama health care overhaul are to provide a marketplace for people to buy government subsidized healthcare.  The level of subsidy is to be based on an individuals income level.

According to benefits experts, this new system will hurt those that need help the most, as the companies most likely to drop health insurance coverage for their workers are retailers and other companies that operate in low pay industries.

More happy economic times on the horizon for the (few) workers in the United States.

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