Monday, October 29, 2007

Humana & SEIU Point to Death of Employer Sponsored Health Insurance

Huge health insurance provider, Humana just released their third quarter results. Compared to 2006, the current year has seen a decline in the number of people covered in the commercial group segment. The number with employer sponsored coverage declined 4.2%.

What happens if the country's experience reflects Humana's? How many more will drop from group health insurance into no coverage, individual plans, or the dreaded government sponsored programs? The answer is nearly 7.5 million Americans. Should 4.2% of the 177 million with employer sponsored insurance fall from the rolls, the question remains as to how many would purchase coverage or qualify for Medicaid or SCHIP.

Someone is waiting in the wings, salivating to deduct paychecks to pay for employee paid health coverage, unions. SEIU President Andy Stern said "employer health insurance is dead and not coming back." I thought it was sneaking out the door under the cover of Congress, the White House and America's Unions. Humana's results drive the point home