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Dwindling Employer Health Insurance

Nov 30th, 2010

health insurance

Today there are fewer employers, both large and small, offering the added benefit of group low cost health insurance to new employees? After World War II, adding low cost health insurance to the employment incentive program was a creative and very ingenious way to lure new employees to their firms. The ability to offer more in monetary funds was slim and this was just another way to help the returning soldiers.
Health insurance was an offering to help with the adjusting from military life back into civilian life with family and close friends. Many businesses would put large signs out in front of their stores to beat the competitor and lure more individuals to them instead of the new employees going to the next business prospect.
Here we are today and many employers, large corporations and small businesses, are declining to offer medical health insurance to new employees. Either many of the businesses today are asking their current employees to pay even more towards the annual cost for group health insurance or they are cancelling their health insurance subscription.
This in turn is leaving many individuals who are employed full-time without the opportunity to afford any type of health insurance to protect them and their family members from catastrophic events that do occasionally occur. The result is there are more individuals and families each year forfeiting health insurance coverage because of the high cost.
Yet, when you think about it, it health insurance will cost so much more if you are involved with a catastrophic event. The chance that you would have enough monetary funds saved to pay for the added expenses are slim and that will leave you and your family members in a bind.
There are more employers today who have forfeited their health insurance provisions for their employees than there are employers with health insurance provisions. Many will offer higher salaries that they have the power to control, but the individual must still try to seek out affordable health insurance coverage on his or her own.
Will the new health care reform bill offer new avenues for employers to offer affordable health insurance to current and future employees? Perhaps, but if the heath care reform bill turns into a government-run single payer system then it will become very difficult for any business, large or small, to have the ability to offer a low cost health insurance plan. Then we will probably find more individuals without any health insurance lining up outside the hospital emergency room and we have that right now.

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