When shopping for health insurance, businesses receive more advantages. Companies typically purchase insurance for an entire group thus giving more room for negotiating to keep costs down. This is a direct correlation as to why 63% of Americans were satisfied with coverage provided by their employer - it is affordable.
Today, the money an employer spends on health insurance is untaxed. So every dollar an employer spends, the employee receives a dollar's worth of benefits. However, individuals buying their own health insurance do not receive such tax breaks. They are paying for their own insurance AFTER taxes and NOT receiving a dollar's worth of benefits.
The Patient Protection and Affordable Care Act (PPACA) is starting to change the employer-paid coverage landscape. Providing a perspective from health insurance underwriters, Janet Trautwein, CEO of the National Association of Health Underwriters, has outlined the affects of health care reform: Preserving What Works: The Perks of Employer-Provided Coverage.
For questions on how PPACA affects the State of Wisconsin, please contact knowledgebroker & WAHU President Pete Frittitta.
