3 in 10 companies will drop health insurance coverage once Obamacare takes effect

Don't let it be said that we didn't warn you America: Marketwatch: Once provisions of the Affordable Care Act start to kick in during 2014, at least three of every 10 employers will probably stop offering health coverage, a survey released Monday shows. While only 7% of employees will be forced to switch to subsidized-exchange programs, at least 30% of companies say they will "definitely or probably" stop offering employer-sponsored coverage, according to the study published in McKinsey Quarterly. The survey of 1,300 employers says those who are keenly aware of the health-reform measure probably are more likely to consider an alternative to employer-sponsored plans, with 50% to 60% in this group expected to make a change. It also found that for some, it makes more sense to switch. "At least 30% of employers would gain economically from dropping coverage, even if they completely compensated employees for the change through other benefit offerings or higher salaries," the study says....(Read Full Post)