More Large Companies Opt To Drop ‘Bare-Bones’ Health Plans

A growing number of large employers are choosing to stop offering their so-called bare-bones or “mini-med” health plans — which typically provide basic, minimum coverage — rather than upgrading the plans to be compliant with the Affordable Care Act’s requirements, theĀ Wall Street Journal reports.

More than 1,200 employers offer such minimum-coverage plans, which must be phased out by Jan. 1. An estimated four million workers are enrolled in the low-cost plans, which are common in low-wage industries and typically limit total benefits to as little as $3,000 a year.

According to theĀ Journal, many companies are opting to shift hundreds — or in some instances, thousands — of employees into private health insurance exchanges or the public marketplaces created under the ACA.

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