According to new research from MetLife, 75 percent of individuals and 83 percent of employers report paying close attention to health care legislation developments. Regardless of company size or whether or not they currently offer medical benefits, eight-in-ten employers say they are on top of the legislation. However, interest is very different among generations as 83 percent of Baby Boomers and 74 percent of Generation Y individuals say they are closely following reform developments, compared to 63 percent of Generation X.
"Our study also reveals a tremendous opportunity for insurance brokers and benefits consultants to help better educate their clients. In turn, well-informed employers will be better positioned to share with their employees the implications of health care reform on their personal situations."
As for where they obtain information about health care reform legislation, consumers and businesses alike turn to traditional media outlets. More than eight-in-ten (85 percent) individuals and 56 percent of employers cite traditional media outlets (TV, radio, newspapers and magazines) as preferred sources. However, more than half (57 percent) of larger employers (500 or more employees) are also turning to their benefits brokers or consultants for information, more so than to business media (42 percent), general audience media (37 percent) or industry publications (32 percent).
"Our study also reveals a tremendous opportunity for insurance brokers and benefits consultants to help better educate their clients," said Ronald Leopold, MD and vice president, U.S. Business, MetLife. "In turn, well-informed employers will be better positioned to share with their employees the implications of health care reform on their personal situations."
Current Satisfaction Impacts Attitudes
More than six-in-ten (62 percent) Americans without any medical insurance feel that health care reform will be "good for America," contrasted with 42 percent of those with medical insurance. Sixty-five percent of Generation Y individuals believe that health care reform will impact them favorably, but only 44 percent are satisfied with their current medical insurance. On the other hand, while only 34 percent of Boomers believe that health care reform will have a positive impact on them personally, 63 percent also say they are satisfied with their current medical coverage.
Attitudes toward health care reform also correspond to health status. According to the MetLife study, 65 percent of consumers who assess their health as fair or poor say that health care reform will have a positive impact on them and their families, contrasted to 28 percent for those who say their health is very good or excellent.
Employers' Next Steps
Three-quarters of employers strongly agree that employees consider health insurance a critical component of a compensation package. Virtually all (96 percent) also say promoting a culture of health and wellness for employees is important. However, many of today's employers (41 percent) aren't sure what they will do regarding medical benefits should legislation pass. Thirty percent of those that do offer medical coverage expect their health benefits to remain unchanged, while 39 percent of those employers who do not currently offer medical coverage are not anticipating offering that benefit.
While 36 percent of employers are unsure about what they will do regarding non-medical benefits like life insurance, disability income protection, and dental benefits should legislation pass, 44 percent of those that offer these benefits anticipate that they will make no changes to them. Only 5 percent of employers who offer these benefits say they would consider reducing them.
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