30% of Employers Likely to Stop Offering Health Insurance in 2014
Companies to Back Out Due to Lack of Provision Waiver
The study found that a growing number of employers are seeking waivers from an early provision in the health overhaul that requires them to enrich their benefits for workers this year. The law mandates that employers not cap annual benefit payouts below $750,000 per person, per year.
In order to sidestep the provision, employers have been receiving waivers in droves. By the end of April, the administration had granted 1,372 employers, unions and insurance companies one-year exemptions from the requirement.
Of course, this waiver is very useful to companies now, but it will no longer be available in 2014.
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