Anticipation of the Outcome of Health Care Reform Legislation

Most companies and organizations provide health care benefits for their employees that sometimes extend to their families as well. Today, there is an uncertainty on whether the employers can continue to give these benefits to their workers. The health care reform legislation that has been passed recently is one of the factors in this indecision. Some issues are being contested in this legislation and one apprehension of employers is the affordability of providing the employees and their families with the ample coverage.

   

The uncertainty in the provisions for this health care legislation is what concerns most employers. They find it difficult to commit the organization into a health care plan for employees when they have no idea on what the law will truly require once all the contentions have been resolved. Possibilities like employers policing their employees to ensure that they have their own insurance coverage, or investing in a system for generating financial calculations that comply with established guidelines is not far-fetched at this point. There are also some speculations that employers are taking it easy on their hiring activities because of these health care plans and their potential complications for the future. Taking this into consideration and given the changes in the job market scenario, one may infer that there is an endless cycle of employers freeze hiring due to financial reservations and individuals trying to find jobs to address their financial needs.

The major concern for the health care reform legislation is to be able to provide ample health insurance coverage for employees. However, the past couple of years have shown employees footing more of the bill in the health insurance offered to employees. As a result, they end up paying higher premiums in addition to higher fees for prescription, visit, and specialist’s diagnosis. Employees have the option to get health insurance coverage on their own or buy from their preferred health care provider. There are also those who opt not to get themselves insured. This decision may cause them problems in the future as the current health care reform legislation has provisions that impose a fine to individuals who do not have insurance for themselves. Since majority of employees depend on their employers for health insurance, there is a possibility of a meltdown in the health insurance industry if employers decide to discontinue giving health care plans for their employees. Companies or employers shouldn’t be the only ones contemplating on the financial aspects of health insurance. Individuals should also take into consideration the amount of coverage that they could afford.

There is still no clear answer on how this legislation will affect the finances and employee benefit structure of companies and organizations. Most business owners and corporate stakeholders are keeping the status quo in their health care benefits for now, while employees are hopeful that their employers continue to provide insurance coverage for years to come. Unfortunately, they both need to be a bit more patient and wait for the outcome of the health care reform legislation.