October 24, 2014
Some employers, such as Columbus, Ohio-based consulting firm Sequent Inc., are leaning toward consumer-driven plans. They allow employees to use personal health savings accounts, or HSAs, or other medical payment products to pay for routine expenses, while a high-deductible health insurance policy protects them from catastrophic costs. Sequent CEO Bill Hutter believes health insurance costs will increase dramatically as a result of the legislation, which will force businesses to shift the way they deliver coverage.
One employer determined to continue offering health care coverage is Mike Neundorfer, president of Neundorfer Inc., a Willowby, Ohio-based pollution-reduction company that pays premium costs for its approximately 40 full-time employees.