Employers Compliance With Health Insurance

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Firms with 10 or fewer employees are the vast majority of businesses reported by insurers as non-compliant, small businesses state “they struggle to afford their monthly medical insurance premium” and the ”recent trend of employers transitioning to inexpensive plans may end in a rise in compliance over time. ”

This was from the ‘Employers’ Compliance with the Health Insurance Act 1970 2021 Annual Report,’ which was recently released by the  Bermuda Health Council.

The report said, “The Covid-19 pandemic significantly impacted employer compliance in 2020, with the very best variety of policies reported by insurers since 2016. In 2021, the Council noticed a decline within the variety of policies reported in comparison with 2020.

“That is could also be indicative of a return to an overall decline within the instance of employer non-compliance. A discount within the variety of complaints received in 2021 in comparison with 2020 supports this premise.

“Firms with 10 or fewer employees are the vast majority of businesses reported monthly by insurers as non-compliant. Small businesses state that they struggle to afford their monthly medical insurance premium.

“The recent trend of employers transitioning to inexpensive plans may end in a rise in compliance over time. Nonetheless, employees may lose access to supplemental advantages and pay more out-of-pocket expenses resulting from reduced coverage.”

The total 2021 Employers Compliance Annual Report follows below [PDF here]:

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