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Employers have choice when health insurance changes

Posted On Wed, November 2, 2011

A recent announcement from CVS Caremark noted that many consumers may have to switch to non-employment health insurance plans by 2014, as many businesses may stop providing such coverage.

Healthcare reform is set to kick in in 2014 and could change the way businesses administer insurance plans, the report noted. In addition, it could also force some companies to remove sponsored insurance completely.

"What we know is that there are actions and programs that have had a direct impact on employee heath and productivity," said Troyen Brennan, executive vice president and chief medical officer of CVS Caremark. "It seems clear those of us in the health care industry have to be creative and diligent in developing and administering these programs, because absenteeism and productivity go to the bottom line."

Consumers may want to be proactive and go out of their way to get an insurance plan before their employer drops their plan. In what could be the best way to do this, consumers may want to compare health insurance rates. It may help save money in the long run.

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