The relentlessly rising cost of health insurance is prompting some small Massachusetts companies to drop coverage for their workers and encourage them to sign up for state-subsidized care instead, a trend that, some analysts say, could eventually weigh heavily on the state’s already-stressed budget.
Since April 1, the date many insurance contracts are renewed for small businesses, the owners of about 90 small companies terminated their insurance plans with Braintree-based broker Jeff Rich and indicated in a follow-up survey that they were relying on publicly-funded insurance for their employees.
Seriously, does this surprise, oh, anyone? Well, anyone with an IQ higher than room temperature in a meat locker or employed by the Patrick administration, that is. You make insurance mandatory - meaning that the
Scared yet?
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6 comments:
I did a post on this one too. Can you say "rationed health care"?
Knew you could. . .
Does Mass have laws regulating who can and cannot be denied coverage as well? Those are always good for jacking up premiums as well.
I'll nitpick, because it seems an important distinction to me.
MisterG, you need to be sent back to remedial economics!
"You make insurance mandatory - meaning that the supply is assured - and are surprised that costs rise?"
The demand is assured - and actually increasing as population grows.
The supply, however, is (A) limited to begin with, and (B) decreasing. As insurance companies decide to stop doing business in MA, more and more people will be forced to the publicly-funded option, and that means ... prices go up.
I wonder when we can start an anti-trust lawsuit against the government?
Excellent catch Zercool, and duly noted.
That's what I get for setting my posts up the night before when I'm tired... ;)
I'm shocked! There are still small business in MA?
Q. How do you make a small business in Massachusetts?
A. Start with a large business in Massachusetts.
Thank you, thank you, I'll be here all week. Remember to tip your waitress.
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