Who will pay for higher healthcare costs?

By Jillian Marshall

Who will pay for higher healthcare costs?

March 15, 2013 Updated Mar 15, 2013 at 6:23 PM EDT

Vestal, NY (WBNG Binghamton) Without changes, insurance companies are expected to pass along to their customers expected increases in costs from the president's healthcare plan, local leaders said today.

President Barack Obama's healthcare reform proposal was the talk of Binghamton University Friday as business leaders, professors and students discussed its impact at the 12th annual Binghamton Symposium on Healthcare Management and Policy.

The focus of the symposium Medicare, Medicaid and healthcare reform.

Taxes on insurance companies are expected to kick in in 2014 as a result of the president's plan. But premiums could increase by as much as $400, according to Lev Ginsburg, a member of the Business Council.

Ginsburg says businesses will be hit the hardest because they'll have to supply insurance to full-time employees, or face hefty fines.

"I think we're seeing that the expected results in terms of reducing the cost of healthcare may not be quite as achievable as was initially expected," said Charles Aswad, executive vice president and CEO of the Medical Society of the State of New York.

The symposium finishes Saturday with a student-organized meeting on Global Healthcare.

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