New Coverage Requirement Will Cause Employer Premiums to Rise Nearly 1%

The U.S. Government says letting young adults stay on their parents’ health insurance plan until they turn 26 will cost employers close to another 1% for company sponsored plans.  This is one of the most anticipated changes to the 2010 Health Care Reform legislation.  Employers should also be prepared for a flood of phone calls as a result of the estimated 1.2 million young people expected to sign up for this plan.  Many insurers have already offered extended coverage for individual plans.  This extended coverage will be required for group health plan renewals starting on or after Sept 23rd of this year.

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