Small Businesses Begin Dropping Employee Health Insurance

Tuesday, 26 Nov 2013 01:29 PM

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
The government estimates millions of workers will be dropped from their employee insurance policies under the Affordable Care Act — and it's already happening for some, CBS News reports.

New Hampshire small business owner Nancy Clark, who was featured last year in a White House video blog, learned last month that her insurer will hike rates by 39 percent starting next year. This will mean $30,000 in costs to her, according to CBS News' Sharyl Attkisson.

So Clark will end the insurance she offers to her eight employees in favor of Obamacare, but that process has been hit by technical glitches.

Attkinsson also reports that Virginia Beach business owner Betsy Atkinson is cancelling company insurance because her plan won't meet new the requirements of the Affordable Care Act and she can't afford one that does.

Small businesses don't have to supply insurance and may find new policies too costly.
Several experts told Fox News that nearly 80 million people with employer health plans could see their coverage canceled because they are not compliant with the Affordable Care Act.

In addition to the individual cancellations, "at least half the people on employer plans would by 2014 start losing plans as well," Stan Veuger of the American Enterprise Institute, a conservative think tank, told Fox.

An analysis by the American Enterprise Institute anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the Affordable Care Act exchanges, according to Fox.

They predicted up to 100 million small and large business policies could be canceled next year.

Related stories:

© 2014 Newsmax. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Trump: Nevada Rancher in Position to 'Cut a Good Deal' With Feds

Wednesday, 16 Apr 2014 22:59 PM

Billionaire real estate developer Donald Trump thinks Nevada cattle rancher Cliven Bundy is in a strong position to cut  . . .

One Dead, Three Injured in Blast at Tennessee Ammunition Plant

Wednesday, 16 Apr 2014 21:58 PM

One person has died and three others were injured on Wednesday after an explosion at an ammunition plant in central Tenn . . .

Government Causes Generic Drug Shortage, Critics Say

Wednesday, 16 Apr 2014 16:49 PM

A proposed Food and Drug Administration rule on product labeling will exacerbate shortages of generic drugs already resu . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved