News Headlines Article

Low fines may cause businesses to bail out of healthcare plans
Ventura County Star

Many companies may stop offering health insurance to their workers in 2014 because the fines triggered by federal healthcare reform will cost less than the coverage, an insurance expert told Ventura County business owners Thursday.

Edward C. Fensholt, director of compliance services for the Lockton Benefit Group, predicted employers will choose to save money by paying the $2,000 annual fine for each full-time employee, forcing millions of workers to buy their policies in an insurance exchange marketplace that will be created by 2014.