Private Unemployment Insurance
Academic, fiscal and industry study of privatized employment insurance options. This is being pursued to investigate an alternative to address insufficiency in unemployment benefits, their delivery and their accessibility. The study focuses on a model that could make private employment insurance sustainable.
Abstract on paper “Private Employment Insurance: a 2010 perspective”
Unemployment Compensation (UC) in the U.S. has been a public benefit funded by federal and state UC taxes. There have been several widely researched socio-economic problems with unemployment compensation from lack of coverage to perverse incentives encouraging unemployment. Unemployment Compensation is basically a form of insurance, and is often referred to as Unemployment Insurance (UI) or employment insurance. Government-provided insurance such as Medicare and Medicaid have been becoming expensive for the state which is part of the reason for the re-haul of the health industry in the U.S. In fact, public option of health insurance has been dropped in health reform negotiations moving forward, with the requirement for signing up with private health insurers being instituted instead. Yet, unemployment insurance is a public provision which is not actively being challenged. This paper considers the private provision of unemployment insurance.