|
|
|
|
|
|
|
|
|
|
  |
   |
|
||
|
The term employer-sponsored health insurance is misleading since, basically, the insurance terminates when you lose your job—often the time when you are most financially vulnerable. Employer-sponsored health insurance is also misleading because insurance means spreading the risk among a large group of people or organizations so that no single entity bears the cost of a catastrophic illness. That's not how employer-sponsored health insurance works. Each time an insured employee in your organization runs up large medical bills, your organization pays these costs the following year with a directly proportional increase in its annual health insurance premium. The “insurance” employers pay for is actually little more than a delayed bill-paying mechanism. In 1985 I testified before the U.S. Congress, as follows: “Show me a person who owns their own 100-employee business, and I'll show you an employer who knows the first name of each child of an employee who has diabetes—even though they are not supposed to know. A small employer with a $35,000-a-year employee should not be burdened with the $75,000-a-year medical cost for a child of that employee who has diabetes—or have to face the terrible choice between staying in business versus taking care of the sick child of an employee.” Suppose you work for a 51-person company where one participant develops a health condition costing $500,000 a year or more. Next year, the health insurance premium paid by your company will go up by $500,000. The cost of your employer-sponsored medical plan would increase more than $900 a month per participant, forcing your employer to cut benefits or possibly terminate the plan. What would happen if two people developed such a condition? Employer-sponsored group health insurance plans are ticking time bombs as their workforce ages.
|
|||||
| ADDITIONAL RESOURCES FOR THE NEW HEALTH INSURANCE SOLUTION |
|
|
|
|
||||||
|
|
|
|
|
|
|
|
 |
 |
 |
 |
 |
 |
 |
 |
 |
