Health insurance: Get your own

A new report claims a considerable chunk of employers may stop offering workers employer-sponsored health insurance when the Obama administration’s health-care overhaul takes effect in 2014, according to the Wall Street Journal.

The McKinsey & Co. survey found that 30 percent of employers plan to “definitely” or “probably” stop providing health-insurance plans to their employees. The finding is contrary to previous research, which claimed the percentage of employers likely to stop offering health coverage would be minimal.

Starting in 2014, larger companies (with more than 50 employees) may be required to pay a fine if they do not provide insurance to their employees, and similarly, Americans will be required to have health insurance or will be subjected to a fine. Citizens will have more options when it comes to insurance, and carriers will be prohibited from denying coverage due to pre-existing conditions, which may be why companies will not feel obligated to provide insurance to employees, the report suggested.