Essay: Insurance Cover for Employees
At the beginning of 2011, employers will be obligated by the law to provide the amount of money they pay as insurance cover for each employee. This will provide a better understanding of the government as to the extent of all the employees’ insurance cover. This information should be provided yearly on the employee’s annual form. It will be mandatory for insurers to spend at least 85% of the insurance cover on large groups and 80% on small groups, failure to which the insurer should return the difference to the customer.
This will ensure that customers reap maximum benefits and at the same better health care from their insurance schemes. January 1, 2014 will see the banning of discrimination against any individual seeking medical cover based on their health history. Insurers charge higher premiums for customers who suffer from chronic illnesses, which act as a discouragement to all the individuals suffering from such conditions. Abolishing this requirement will help the customer in accessing insurance cover at the price of the healthy customer. It will be against the law for the insurers to establish any annual limits of the amounts a customer can pay his or her insurance policy. The limits sometimes are too expensive for the low-end customers and as a result, they lead to very many customers forfeiting their contributions. Through this, a customer will be at liberty to set the amount he thinks he is comfortable with and thus reduce cases of forfeiting. (Dennis 2010 pp 17-26)