Time to usher in the new. Jim Christenson, one of this year’s Benefits Selling Expo speakers, gives us some insight on where the employee benefits industry will tread throughout the next five years, and what to expect out of health care reform. The following is just a preview. Don’t miss Christenson’s upcoming session – and full remarks – at 4 p.m. on April 6 in Nashville.
Benefits Selling: What changes to the health care reform bill do you anticipate seeing in 2011, if any?
Jim Christenson: There won’t be any changes. Public opinion is slowly changing to favor the bill. The dominant party is loathe to remove the age 26, no-pre-x, no-cap provisions and the states cases will need to be decided.
BS: What kind of impact will health care reform make on consumers this year?
JC: Health care reform, the Patient Protection and Affordability Act, will help those that have not been able to qualify for coverages. Price increases in coverage will still come from utilization and new innovation in medicine.
BS: What issues should employers address with employees regarding health care reform in 2011?
JC: Employers need to have clearly communicated the changes to their employees. They need to allow their consultants and brokers to help them with solid strategies to deal with changes through 2014.
BS: What are the pros and cons of the health care reform legislation?
JC: I tackle one pro and con and that is required coverage provisions. The dirty little secret is that 100 percent participation will help spread risk and lower prices. The under-30s still don’t own health insurance in significant percentages. At the workplace lower paid employees have cancelled coverage on themselves and their families because they can’t afford the payroll deductions. No one thought that required automobile insurance would work but it has. The con is that adoption will place a new strain on employers and may derail our economic recovery.
BS: Should brokers expect to see any impact on their business in 2011 because of health care reform?
JC: I think 2011 will be the same as 2010, double-digit price increases handled by ever increasing deductibles. Brokers will continue to see a softening of income.
For the full interview, and to check out more exclusive speaker Q & As for Benefits Selling Expo 2011, go to www.benefitspro.com.
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