Economics White Paper

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Employer to increase the premium of employees with lifestyle-related illness In the recent years, there has been an increase in costs related to health care which has, in turn, weighed heavily on employers budgets. In 2017 the annual premium raised to $18,764 from $18,142 in the previous year. This trend seems to continue, and according to a Wall Street Journal dated 30th October 2017 by Stephanie Armour, the standard health plan is predicted to increase more than 30% this year. The decision to terminate the subsidiary payments by the current president in October last year is one of the factors that will contribute to a higher increase in the premium rates. Additionally, the number of insurers in the federal exchange program is also expected to reduce from 167 to 132 which will result to an insurer being selected by several consumers at the rate of 30% from 20% which will lead to increase in premiums. Previous research has indicated that unhealthy behaviors translate to higher use and cost of healthcare which in turn leads to high premiums. In 2015, a report by Pay Claire specified that smoking cigarettes and obesity-related health problems did cost the US healthcare system a total of $112.8 billion annually, i.e., $85.8 billion and $27 billion respectively. Additionally, according to American Medical Association 25cents of every $1 for healthcare, is used in the cure and management of illnesses that arise from these lifestyle habits. The individuals who engage in these behaviors pay a small percentage of the cost associated with the ailments. Therefore, coming up with policies that redistribute these expenses is indispensable. In this case, the company should

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