Fortune 500 Employees Can Expect To Pay More for Health Insurance

Employees who work for Fortune 500 companies are expected to pay higher health insurance employee contributions. These are findings from a survey conducted to evaluate the impact of The PPACA or Patient Protection and Affordable Care Act also popularly known as Obamacare. The survey findings show that there is a huge percent increase in the cost of health coverage and a huge percent has moved or is planning to move employees to the consumer directed health plans to deal with the increase. There is also an increase in the employee contributions plans for insurance and a good percent is also already planning to limit the number of full time employees hired all in the name of managing the drastic change.

In essence, the moving of employees to Consumer Directed Health plans is to ensure that they have an amount of money to cover for regular healthcare managed by the corporations thus shifting responsibility from the employer to the worker. The need to offer health insurance to all employees working 30 hours every week under the act has also driven most small businesses to consider hiring part time workers to ensure that this limit is not reached compelling them to provide the insurance. In simple terms, to keep up with the act, Fortune 500 companies are coming up with ways through which they can ease the burden from their shoulders and setting it squarely on the employees.