Save 20% on your Insurance CE Course.
Global Insurance Symposium. Register now!
Global Insurance Symposium. Register now!
Global Insurance Symposium. Register now!
Estate Planning Failures of the Rich and Famous V
 

More American Workers To Pick Their Insurance

For some American workers, picking the right health insurance is becoming more like hunting for the perfect business suit: It takes some shopping around to find a good fit and avoid sticker shock...

By TOM MURPHY, AP Business Writer
Associated Press

For some American workers, picking the right health insurance is becoming more like hunting for the perfect business suit: It takes some shopping around to find a good fit and avoid sticker shock.

In a major shift in employer-sponsored health insurance coverage, companies such as Sears Holdings Corp. and Darden Restaurants Inc. are giving employees a fixed amount of money and allowing them to choose their own coverage based on their individual needs.

The approach, called defined contribution health insurance, contrasts to the decades-old practice by most U.S. employers of offering workers a one-size-fits-all plan. It also means American workers who've grown accustomed to having their benefits chosen for them could wind up with bigger bills and inadequate coverage if they don't choose wisely.

Copyright: (c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Wordcount: 124


USER COMMENTS:

comments powered by Disqus

  More Life Insurance News

More Life Insurance News >>
  Most Popular Life Insurance News

More Popular Life Insurance News >>
Hot Off the Wires  Hot off the Wires

More Hot News >>

insider icon Denotes premium content. Learn more about becoming an Insider here.
Foresters Advantage Plus: Participating Whole Life Insurance