Question

What is employer based insurance and what are the untinteded consequences of it?

What is employer based insurance and what are the untinteded consequences of it?

Homework Answers

Answer #1

Employer based insurance is , when an employer pays the cost of a health insurance plan for his employees ( including spouse and dependents) .

Consequences of employer based insurance:

For emloyers:

  1. Potential cost increases from year to year - premiums typically increase every year based on the previous years health care costs of the group.
  2. Additional expense for providing coverage.
  3. Possible in house administrative costs.

For employees:

  1. Ineligible for subsides if coverage meets requirements - after getting health insurance from employers most people never think too much about it until they or family member develops a serious health problem. That when they first learn the details of their health insurance benefits ie which medical providers they can use and what their out of pocket expenses will be.
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