"For most employers, it really isn't worth it," said Andy Anderson, who leads the health division at the law firm Morgan, Lewis & Bockius in Chicago. "They want to keep their employees."UPS announced this summer that it would no longer offer coverage to workers' better halves who could get insurance through their own employers. UPS blamed the move in part on increased costs under Obamacare. Whether it's driven by the health care law or just an effort to cut health costs, it's a move that some other firms have made or are considering as well.If you don't like your insurance, can you change it?
If your employer doesn't offer decent, affordable insurance, you may have new options.The basic standard for good insurance under Obamacare is that the health plan will pay at least 60 percent of medical expenses. Most large employer plans now more than meet that measure, but there are notable exceptions among big businesses, too, especially in the restaurant, hospitality and retail industries.And insurance is "affordable," according to the Affordable Care Act, if you can buy it for less than 9.5 percent of your taxable income. But what's affordable under the ACA may not be affordable by other lights. A person with adjustable income of $40,000 could pay up to $3,800 a year, or about $315 per month.
Next year, people who don't have access to affordable insurance can go into the exchanges and seek an income-based subsidy. Employers have to send out a notice this fall that will help workers know whether that's an option.Unlike its 49 counterparts, Hawaii has been living with a strict employer mandate for nearly 40 years. And as businesses nationwide celebrate a one-year delay in the similar Obamacare requirement that they cover workers, supporters of Hawaii's law say theirs is proof that the rest of the country could adjust — and even learn to like it.
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