Health insurance coverage is expensive and the costs are increasing every year. Yet large U.S. companies are even more committed to offering health insurance coverage to their employees.
The share of large companies in a recent survey that say they are ‘very confident’ they will still be offering a job-based health plan to their employees 10 years from now rose to 65 percent this year. That’s up from only 25 percent of employers in 2014.
Just a few years ago, many companies were contemplating their options for no longer offering employer-sponsored health insurance coverage. There are many reasons companies are now moving away from that idea. Uncertainty over the future of Affordable Care Act’s marketplaces, a stronger economy, low unemployment and more competition for employees have all played into companies’ decisions to keep offering a health plan.
Is your company contemplating whether to offer health insurance? Not sure if an existing health plan is the right one for your company and employees? Tired of large premium increases each year? At The Hays Companies, we have market leverage from being one of the largest employee benefit practices in the country. We can help you balance the goals of offering quality coverage to your employees and managing costs. As an extension of your internal Human Resources team, we do the hard work on our end to make your health insurance decisions easier.