A survey by the National Business Group on Health found healthcare costs for employers will rise 8.9% in 2011. Most employers expect to pass these extra costs onto employees. The Employers share of healthcare premiums in 2010 were higher then expected according to the survey.
A majority of employers surveyed will offer healthcare plans with higher deductibles, the share that the employee is required to pay, to offset additional cost. Employees will pay a larger contribution on a pre-tax basis.
The new health care reform is a major factor contributing to the increase in cost. Insurance companies, that will be negatively effected when the new reform is implemented, are increasing premiums now to recoup losses expected once the government health plan takes affect.
Another factor increasing healthcare costs, is the new coverage for adult children up to age 26 who stay on their parent’s plans, and the removal of lifetime limits imposed by the Obama administration. 72 large companies participated in this survey, each with over 5,000 employees.
The overall increase in healthcare costs, for all businesses and the privately insured in 2011, is expected to be around one percent to three percent minimum, depending on the coverage you have. Earlier this year the President said, “healthcare reform would lower healthcare costs for all Americans,” but obviously we are finding out this is not the case.
Author: Cityclix.net Staff Writer
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