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Will Obamacare Affect Your Employers Insurance

Obamacare promises that there will be affordable health care for all. And as far as political rhetoric goes it sounds like a good idea. However, there are many concerns as to what effect it might have on the costs of private healthcare provided by employers. The opinion seems to be divided as to what difference it will actually make. There are four schools of thought.

No Difference

ObamacareSome people feel that it will not make very much difference at all. They state that the panic that employers will drop their health care benefits is unfounded. The theory behind this is that most employers offer these benefits because they want to attract employees. Because many companies do it, the rest have to or else employees will go to those who do offer the benefit. It is advantageous to them as well because they can offer a bigger package to employees without them having to pay so much tax as the health care benefit is not taxed. They will not want to risk losing those good employees if they drop the benefit.

Some Employers Will Drop Health Care Benefits

There is an alternative way of thinking suggesting that companies will drop their health care benefits. This has been proposed because now that private health care is no longer the necessity that it used to be, people may not see it as a benefit that they are interested in. If the cost out weighs the perceived benefit companies may decide that it is too expensive to offer.

Only Small Businesses Will Suffer

Some people feel that the small businesses will be the only ones that feel the impact because the cost of the insurance will go up and they will have to pay that. It is felt that big businesses will be able more easily swallow those costs and therefore will not suffer so badly.

Insurance Will Be More Expensive

The last point is based on the assumption that health insurance costs will rise. This is because the costs of universal health care will have to include everyone including those with pre-existing conditions and serious illnesses and so it is felt that this will happen by increasing costs of insurance generally. Some people even think that this will spread wider and hit the cost of life insurance as well.

However, with all these conflicting theories and thoughts it can be very difficult to know what to expect. In fact until the system has been in place for a significant amount of time, there is no way to tell what will happen to prices and the economy as a result.

See Also:

Recommended Books:

  • ObamaCare Survival Guide By Nick Tate — I had heard many stories about ObamaCare and I wanted to know just how it would affect me and my family, personally, step-by-step. I needed a “Dummies” book and
    found this book to be very helpful in finding out more about that dreaded subject. The chapters are organized so that I can refer to the ones I most need at the moment. It is easy to read and the quality is exceptional. Thank you, Nick Tate, for clearing up some questions for this “dummy” and presenting others to think about.
  • Health Insurance: Navigating Traps & Gaps
  • Insurance for Dummies

 

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