The Recessionary Impact on Employer-Sponsored Health Coverage: Will it be Different this Time? Who Pays? How Much?
Jack Towarnicky, an ERISA/Employee Benefits compliance and planning attorney, having over forty years of experience in human resources and plan sponsor leadership roles joins ehealth Radio and the Healthcare and Legal Channels.
Listen to interview with host Eric Michaels and guest Jack Towarnicky discuss the following:
Americans are anxious over “what’s next” in terms of increases in the cost of medical coverage and their out-of-pocket expenses, and how they will add to the existing financial stress from recent inflation and the decline in economic activity in the first half of 2022. What is your outlook?
There isn’t widespread agreement about whether we are in a recession. Regardless, how will the recent decline in economic activity be different this time?
Most American workers would be surprised to find out that they pay more for other people’s subsidized health coverage than for their own. Who pays, and how much? And, how much more are taxpayers going to pay into this?
What is the expected impact of current inflation and economic trends on employer-sponsored coverage?
How should employers and employees be thinking about health plan renewals for 2023? What actions should they be taking now, today?
What can employers and employees do about the looming increase in medical costs for 2023?
Jack Towarnicky Member, aequum LLC
As an ERISA/Employee Benefits compliance and planning attorney, Jack has over forty years of experience in human resources and plan sponsor leadership roles. This includes twenty-five years as the leader of a Fortune 100 corporation’s benefits function. While serving in those roles, Jack and his team won a multitude of individual, team and corporate recognitions. In 2020 Jack joined aequum and provides plan drafting and compliance services to employers and plan sponsors.
Founded in 2020, aequum LLC serves third-party administrators, medical cost management companies, stop-loss carriers, employer-sponsored health plans and brokers nationwide to protect plan participants, improve employee satisfaction with their health care plans, and generate plan and participant cost savings. aequum helps patients defend medical balance bills and brings savings to employer-sponsored health plans by providing administrative and other services to its partners. In addition, its sister organization, Koehler Fitzgerald LLC, provides legal advocacy to plan participants.