Monday, April 28, 2014

Affordable Care Act Could Have ‘Modest’ Effect on Other Insurance Costs

The expansion of health insurance accomplished under the Affordable Care Act may alter costs for several major types of liability insurance, although any such changes are likely to be modest, according to a new RAND Corp. report.

Automobile, workers’ compensation and general business liability insurance costs may fall under the Affordable Care Act (ACA), while costs for medical malpractice coverage could be higher, according to the study.

Researchers say the changes could be as much as five percent of costs in some states, but caution there is considerable uncertainty surrounding such estimates. The findings are from one of the first systematic studies of how the ACA could influence costs for liability and related lines of insurance.

source: www.insurancejournal.com

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