Like Your Health Insurance?
A new report by S&P Capital IQ, a research firm serving the financial industry, indicates that by 2020 about 90 percent of American workers who now receive employer health insurance will be shifted to government exchanges created by the Affordable Care Act (ACA).
How many who didn’t think the ACA was a good idea in the first place knew this was coming? Good. Go to the head of the class.
Despite President Barack’s Obama repeated statements about keeping your health insurance, your personal health insurance not increasing in price and the ACA not being a stalking horse for full government-run health insurance, a single-payer system always was the administration’s goal.
The scope and speed of the shift to government insurance exchanges and the amount of money the companies could save, though, are surprising, according to a report by New York Times senior economic correspondent Neil Irwin.
S&P researchers concluded the shift could save the biggest American companies as much as $700 billion between 2016 and 2025, or about 4 percent of their total value. For all companies with more than 50 employees, the total would soar to $3.25 trillion.