Though most Americans today receive their health insurance through employee benefits they get from their workplace, a recent study suggests that this trend may not be the case within the next 10 years.
According to a projection performed by research firm S&P Capital IQ, approximately 9 in 10 U.S. adults that get their coverage through their employer will someday receive coverage through a federally facilitated or state-run exchange, which were formed as a result of the Affordable Care Act, The New York Times reported.
The prime reason for this is cost savings. Researchers at S&P estimated that altogether, the nation's largest employers could save as much as $700 billion between 2016 and 2025 just by making the switch. When including all companies that employ a minimum of 50 workers, savings could surpass $3.2 trillion.
Michael Thompson, managing director at S&P Capital IQ, noted that it remains very much up in the air about how many companies will make the transition, with some staying with the model they presently have no matter what.
"We still expect some companies to hold on to their health care plans, just as some private companies still have pensions," Thompson told the Times. "But we think that the tax incentives for employer-driven insurance are not enough to offset the incentives for companies to transition people over to exchanges and have them be more autonomous around management of their own health care."
Others say that the 90 percent figure is extreme, as not only have companies been providing employee benefits for years on their own volition, but they help retain and attract talented workers, the paper noted.
In a separate poll performed by research organization LIMRA, roughly 9 in 10 employers said that offering medical insurance was a must in order to spur more people to inquire about job openings.
