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Senators Advocate More Health Cost Disclosure
Health insurance premiums grew about 4.7 percent for family coverage and cost
about $12,680 in 2008, according to the Kaiser Family Foundation. A bipartisan
group of senators is hoping more transparency among employers and employees
regarding health costs is on the horizon.
They have introduced
legislation would require employers to report what they pay for all polices
provided to workers, including health insurance or separate dental and vision
plans. Earlier this year, the Congressional Budget Office argued that if workers
knew what they or their employers pay for health care, it might encourage them
to reign in health care costs more actively.
The proposal would require
employers to include the amount paid for health insurance coverage on the W-2
Form. It would inform workers about the total cost of their coverage and what
they may be giving up in wages.
The senators will accept public comment
on the proposal through Dec. 31; comments should be sent to disclosure@finance-rep.senate.gov. Find out more information
at the Web site of Sen. Grassley (R-Iowa), the proposal’s lead
sponsor.