A new report released by IBM today paints a bleak picture of the future for U.S. health insurers unless they make radical changes in how they do business. IBM is one of the largest self-insured US employers, bearing financial risk for the health of more than 350,000 employees and their dependants.

Sickness or injury can leave people in serious financial jeopardy even when they have health insurance, according to a report released today by The Access Project and Brandeis University. The Illusion of Coverage: How Health Insurance Fails People When They Get Sick, reports findings based on in-depth interviews with dozens of insured Americans in seven states.