So much for that often-told promise about being able to keep your health insurance, eh Barack?
(USA Today) — Nearly one in 10 midsize or large employers expects to stop offering health coverage to workers once federal insurance exchanges start in 2014, according to a survey from a large benefits consultant.
Towers Watson also found in a survey completed last month that an additional 20% of companies are unsure about what they will do.
Another big benefits consultant, Mercer, found in a June survey of large and smaller employers that 8% are either “likely” or “very likely” to end health benefits once the exchanges start.
Employer-sponsored health insurance has long been the backbone of the nation’s health insurance system. But the studies suggest some employers, especially retailers or those paying low wages, feel they will be better off paying fines and taxes than continuing to provide benefits that eat up a growing portion of their budget every year.