The History & Future of Small Business Health Insurance
HISTORY OF EMPLOYER HEALTH INSURANCE
1940’S

1960’S

BIRTH OF TAXF...
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[Infographic] The History and Future of Small Business Health Insurance

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The History and Future of Small Business Health Insurance

Where have we been with small business health insurance? What is the past and what is the future?

> Did you know employer health insurance originated in the 1904's during WWII as a way to increase non-taxable income during the war-time wage controls?

> Did you know only 35% of small businesses offer health insurance to employees? That's 2.3 million small businesses in the U.S. who do not offer health insurance.

> Did you know 60% of educated employers plan to transition away from traditional health insurance in 2014 and adopt alternative solutions such as defined contribution health benefits?

View high-res image and read more at: http://www.zanebenefits.com/blog/bid/324891/The-History-and-Future-of-Small-Business-Health-Insurance-Infographic

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  • Also check out this on-demand webinar on the future of small business health insurance: http://offers.zanebenefits.com/the-history-and-future-of-small-business-health-insurance
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[Infographic] The History and Future of Small Business Health Insurance

  1. 1. The History & Future of Small Business Health Insurance HISTORY OF EMPLOYER HEALTH INSURANCE 1940’S 1960’S BIRTH OF TAXFREE EMPLOYER HEALTH INSURANCE DURING WWII TODAY EMPLOYER HEALTH INSURANCE UNIVERSAL EMPLOYER HEALTH INSURANCE IS BROKEN GROUP HEALTH INSURANCE WORKED WELL IN THE PAST WHEN EMPLOYEES STAYED WITH COMPANIES FOR A WHOLE CAREER, AND WHEN THERE WERE NOT COSTLY PROCEDURES SUCH AS MRIs AND TRANSPLANTS DRIVING UP THE COST OF HEALTH CARE. THAT’S NOT THE CASE TODAY. TODAY - EMPLOYER HEALTH INSURANCE IS BROKEN THE COST IS UNSUSTAINABLE SMALL BUSINESSES WANT TO OFFER HEALTH INSURANCE... (to small businesses and employees) (but struggle to afford it) +166% +191% SINGLE 61% FAMILY 1999 2013 1999 2013 ANNUAL COST TO COVER AN EMPLOYEE “THE PRIMARY REASON I DON’T OFFER HEALTH INSURANCE TO EMPLOYEES IS COST”. 2.3 Million 43% 35% # OF SMALL BIZ OFFERING HEALTH INSURANCE 2006 2012 SMALL BUSINESSES IN THE U.S. DID NOT OFFER EMPLOYER HEALTH INSURANCE IN 2012 THE FUTURE - DEFINED CONTRIBUTION & INDIVIDUAL HEALTH INSURANCE “PURE” DEFINED CONTRIBUTION HEALTHCARE HEALTHCARE ALLOWANCES FOR EMPLOYEES TO USE ON INDIVIDUAL HEALTH INSURANCE PLANS. EMPLOYERS REDUCE AND CONTROL COSTS. HEALTH REFORM FAVORS DEFINED CONTRIBUTION AFTER 2014 BEFORE 2014 MEDICAL UNDERWRITING  NO FEDERAL SUBSIDIES FOR INDIVIDUAL PLANS  60% NO MEDICAL UNDERWRITING (GUARANTEED-ISSUE)  HEALTH REFORM  FEDERAL SUBSIDIES FOR INDIVIDUAL PLANS   INDIVIDUAL/FAMILY DRIVEN EMPLOYER-DRIVEN “The shift to defined contribution health plans will gradually take over the health insurance market .” OF EDUCATED EMPLOYERS PLAN TO PURSUE ALTERNATIVES TO OFFERING HEALTH INSURANCE BY 2014, INCLUDING “DEFINED CONTRIBUTION”. ~ ECONOMIST PETER ORSZAG, FORMER DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET ~MCKINSEY STUDY HAPPY EMPLOYEES HELP BUSINESSES THRIVE WHAT EMPLOYEES WANT... WITH DEFINED CONTRIBUTION…. employees take control of their healthcare wit h small business health benefits EMPLOYEES  PICK THE PLAN THAT BEST FITS THEIR NEEDS, INCLUDING THEIR DOCTOR  KEEP THEIR PLAN FOR AS LONG AS THEY WANT  SAVE MONEY WITH NEW HEALTH CARE SUBSIDIES EMPLOYERS CONTINUE TO OFFER A HEALTH BENEFITS PROGRAM THAT CREATES HAPPY, LOYAL EMPLOYEES. Zane Benefits is the #1 online health benefits solution. Successfully transition to a health benefits solution that creates happier employees, reduces costs, and frees up time for meaningful work. www.zanebenefits.com Created and Published by Zane Benefits in November 2013 with Facts and Figures From: The Guide to Defined Contribution Health Benefits (zanebenefits.com/health-benefits-resources) KFF Employer Health Insurance Survey ‘13 (kff.org/private-insurance/report/2013-employer-health-benefits) Employer Health Insurance Facts and Figures 2013 (zanebenefits.com/health-benefits-resources)

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