Carriers Still Face Uncertainty Over Premiums

Carriers are filing their health insurance premiums for 2015, but much of the uncertainty that insurers faced when developing their rates for 2014 still exists, according to a report by the American Academy of Actuaries. Although insurers will have some information about the risk profile of their 2014 enrollees, such as their distribution by age and gender, available health status information is still very limited. For more information, visit www.actuary.org.

Fear and Uncertainty Around Obamacare Persist

When it comes to the Affordable Care Act (ACA) there is fear and uncertainty among small-business owners, according to a study by  Merchant Cash and Capital, an alternative financing company for small businesses. Nearly 40% aren’t sure how the ACA will affect their business.

Some small business owners are already preparing for implementation and are feeling the impact on the health of their businesses in 2014. One in four say they will halt any growth initiatives in the near future as a result of the ACA. One in five say they will put new hiring on hold as they wrestle with increasing operational expenses.

The Small Business Health Options Program (SHOP) exchange is the marketplace for small businesses to choose health plans for their employees. SHOP is available now to businesses with 50 or fewer full-time equivalent employees. Nine percent of small-business owners don’t offer insurance, but plan to use the SHOP exchange to provide employees with coverage; and 5.42% do offer health insurance, but will switch to a new health insurance plan provided through the exchange. For more information, visitwww.premierconsultingpartners.com.

Carriers Grapple with Uncertainty Over the Future of Healthcare

Three-fourths of the 30 worksite executives said that their company’s first, second, or third most formidable obstacle involves uncertainty over the future of healthcare. This factor replaced dealing with product competition and attracting quality brokers as the number one obstacle in the past two studies, according to  a recent Eastbridge survey.

In spite of all the issues surrounding health care reform, the executives remain extremely optimistic about the worksite/voluntary industry’s potential for new sales growth over the next five years. The average expected growth rate was around 9% for the industry and just under 15% for their own companies.

Last Updated 05/05/2021

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