Buxndiverdux
Old Mossy Horns
We've been working on our group insurance plan lately since our renewal is upon us. Our coverage costs increased 12% for 2019-2020. 12% is a big number for small business. Lots of work has to be done to net 12% to cover the cost of that increase. Employees pay $10 per week/$520/year towards their health insurance.
The most concerning is the forecast for the renewal next year in 2020-2021. The group health plans were grandfathered until 2020, then have to meet ObamaCare requirements. Projections for us, if our aging staff remains healthy, show an increase of 68%. That's roughly $68,000 in additional premiums with less coverage.
I feel like 68% is going to be unsustainable. I don't see how any of these group plans are going to be affordable for small businesses. Somebody explain to me again what was wrong with our cost of health care before Obama "fixed it"?
I really hope this ends up being a gigantic election issue. Something needs to be done, or we will have a single payer system by default, and everyone will suffer the consequences of socialized medicine.
Maybe I'm looking at this from the wrong angle? If we drop the group insurance all together, I realize some of the employees will qualify for subsidized rates, but others will not. How does any of this help working people contributing to the system?
I'm really at a loss, and struggling with it.
The most concerning is the forecast for the renewal next year in 2020-2021. The group health plans were grandfathered until 2020, then have to meet ObamaCare requirements. Projections for us, if our aging staff remains healthy, show an increase of 68%. That's roughly $68,000 in additional premiums with less coverage.
I feel like 68% is going to be unsustainable. I don't see how any of these group plans are going to be affordable for small businesses. Somebody explain to me again what was wrong with our cost of health care before Obama "fixed it"?
I really hope this ends up being a gigantic election issue. Something needs to be done, or we will have a single payer system by default, and everyone will suffer the consequences of socialized medicine.
Maybe I'm looking at this from the wrong angle? If we drop the group insurance all together, I realize some of the employees will qualify for subsidized rates, but others will not. How does any of this help working people contributing to the system?
I'm really at a loss, and struggling with it.