A quarter of employers in Rhode Island do not offer health insurance, and over half of employers said health care costs are driving down profits.
A survey by the State’s Insurance Commissioner covered 1444 employers in the state and focused on the availability of health insurance, employee adoption rates, premium increases, and the wage status of the employees.
Here are a few of the more salient results.
1. 20% of employers saw health insurance costs increase more than 25% this year
2. Almost half of the employers experienced increases above 20%
3. 71% of “low wage” employers offer health insurance; 99% of other employers do (Low wage employers are those who pay more than half their employees less than $21,000 annually)
4. Six years ago, 61% of employers paid the full cost of insurance; 21% do now.5. 20% of employers offer only high-deductible plans with deductibles above $1000
But the real impact of rising health insurance costs is seen in the rapid rise in the number of people without health insurance. According to Insurance Journal, (the report) “also shows the proportion of the state’s population without health insurance rose from 6.2 percent to 11.4 percent, between 2000 and 2004.
Clearly, the nation’s smallest state’s experience is similar to the rest of the country. Rising health insurance rates are decreasing access to health care, especially for the lower economic classes.
What does this mean for you?
Another straw added to the load on the camel’s back.
Nov
21
In yesterday’s plant closing announcement, GM cited “soaring healthcare costs” as part of the reason why 30,000 will lose their jobs.
We still have time to think about, talk about, compromise about, and develop a uniquely “American” plan to make health care accessible and affordable for all Americans.
But instead we’ll continue to use the issue as a political football while a gerneration is lost for a lack adequate health care and many more will overpay.
Our children and grandchildren will have to straighten this mess out, and they will be dragged in kicking and screaming!
Massachusetts is even worse. Only Virginia and Indiana had a greater drop in the rate of employer-provided coverage.
http://www.hcfama.org/blog/2005/11/employer-health-coverage-meltdown.html
It is sad to hear so many employers in rhode island don’t offer health insurance. Many Americans lack health insurance and we need to resolve the issue.
At some point the bubble will break…thanks for keeping us informed. I think your site is great!