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More Companies Set To End Their Employee Health Plans Due To ObamaCare

- September 26, 2013

“The Nation's Largest Provider Of Security Guards Plans To Discontinue Its Lowest-Cost Health Plans.” “The nation's largest provider of security guards plans to discontinue its lowest-cost health plans and steer roughly 55,000 workers to new government-sponsored insurance exchanges for coverage next year, in the latest sign of the fraying ties between employment and health care.” (Scott Thrush, “Firms Drop, Rather Than Upgrade, Cheapest Health Plans”, The Wall Street Journal, 9/25/13)

  • Securitas Will Join “More Than 1,200 Employers” That Are Dropping Their Plan. “The U.S. arm of Sweden's Securitas AB SECU-B.SK is among more than 1,200 employers that offer the kind of bare-bones health plans that must be phased out beginning Jan. 1 under the health-care law.” (Scott Thrush, “Firms Drop, Rather Than Upgrade, Cheapest Health Plans”, The Wall Street Journal, 9/25/13)

A Houston Home Construction Owner Says That ObamaCare Has Forced Him To End A Health Care Plan That His Employees Loved. “Marek Family of Cos., a Houston-based home builder, began offering a mini-med about eight years ago, after executives saw that few hourly workers were enrolled in the company's more traditional insurance, said Larry Williams, director of human resources. Marek pays the full premium cost for its plan, which limits an employee's benefits to $60,000 a year. ‘Employees loved that plan, that's what they wanted,’ Mr. Williams said. He said Marek is considering a plan like Guadalupe's with a relatively high deductible, as well as a plan offering limited benefits that complies with the law. Mr. Williams expects those options to be more costly and said employees likely will have to contribute.” (Scott Thrush, “Firms Drop, Rather Than Upgrade, Cheapest Health Plans”, The Wall Street Journal, 9/25/13)

Ahead Of The Launch Of The ObamaCare Exchanges, Health Benefits Consultants Know Of Companies That Will Stop Offering Health Insurance To Their Full-Time Employees. “The breadth of the trend isn't clear, as employers scramble to finalize their 2014 health-care offerings. Analysts have long speculated that the launch of the insurance exchanges could prompt some employers to drop health coverage. But benefits consultants said they know of few companies now providing insurance that won't offer it to full-time workers next year.” (Scott Thrush, “Firms Drop, Rather Than Upgrade, Cheapest Health Plans”, The Wall Street Journal, 9/25/13)

  • Darden Restaurants, Home Depot, And Trader Joes Previously Announced That They Would Shift Their Employees To The ObamaCare Exchanges. “Other big employers, including Darden Restaurants Inc., Home Depot Inc. and Trader Joe's Co., say they will stop offering health insurance to part-time workers, and will direct those employees to the state exchanges. Darden, Home Depot and Trader Joe's previously offered mini-meds to their part timers.” (Scott Thrush, “Firms Drop, Rather Than Upgrade, Cheapest Health Plans”, The Wall Street Journal, 9/25/13)

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