Obamacare financial impact on employees
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Obamacare financial impact on employees
Posted by GeismarGeauxer on 11/8 at 9:02 am
Anyone looked into this much?

I know that my Fortune 500 company using UHC has increased premiums, deductibles and cut the coverage after deductible met from 90% to 80% for 2013 (worse things coming in the future).



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Posted by LSUStjames on 11/8 at 9:17 am to GeismarGeauxer
I work for a Fortune top 30. We went from completely free coverage for the entire family where they paid premiums, co-pays, prescriptions,etc to a new HDHP with a HSA. They will still put 100% of the deductible in our HSA on Jan 1 every year but the overall coverage past the deductible is still not as good. It still has free preventitive care pre-deductible. I'll probably just max out my contributions for another tax shelter.


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Posted by GeismarGeauxer on 11/13 at 9:24 am to GeismarGeauxer
Sucks that so few of us are affected by this...


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Posted by iPadThai on 11/13 at 9:52 am to GeismarGeauxer
My healthcare premiums through my work have gone up every year since 2006. How do you know your increased premiums are directly because of Obamacare? Did your employer say so?


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Posted by matthew25 on 11/13 at 9:16 pm to iPadThai
Has to be. There is no other explanation.


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Posted by fishfighter on 11/14 at 6:31 am to matthew25
quote:

Has to be. There is no other explanation.


Wrong! Aging work force in the work place along with the rise of health care cost. Just for me and the last two years, my insurance has payed out close to 1 million dollars. I will be cut loose come Nov 24 after 31+ years on the same job due to me being out of work two years due to my health. This will be the very first time in my life from the age of 14 that I didn't have a job.

Obamacare is the only answer for me now as far as health care. No other insurance company would touch me. But yet, I didn't vote for Obama.



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Posted by GFunk on 11/14 at 8:01 am to fishfighter
There was a story last night on local news about the impact of the legislation on local businesses. The owner of Mestizo's was interviewed. He indicated that as a direct result of the legislation, he would have to juggle employees schedules which would include reducing hours in order to reduce the financial impact of the cost of healthcare brought about by the legislation.

I think its a real issue, and that businesses in an effort to reduce their exposure and costs will require lower-level employees to climb even more rungs on a taller ladder before they can qualify for employer-subsidized healthcare coverage.

This was the actual intent of Obamacare and our President has discussed this tactic and shift as a desired end. His intent was not to completely destroy private healthcare, but to let it slowly die.

As more and more people are "left out" by private insurers, more people have to utilize the public option. The noose slowly tightens and as fewer people opt into private insurance as they move forward (who wants to pay for something when they're already getting it for free), the private insurer's have fewer and fewer customer pools, which increases costs on those still in the program to a point where more and more people are bled off of private insurance & dump into a free healthcare system.

This is just the initial lurch towards that ultimate end where no one has private insurance because its simply too expensive to be a viable option.



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Posted by iknowmorethanyou on 11/14 at 10:30 am to GeismarGeauxer
Welcome to the real fricking world. Some of you have no idea how good you've had it. As a small business owner, my premiums/coverage have been shitty for sometime now.

Just say thank you to your employer for the past 20 years of low cost health ins...now pucker up. Health ins companies operating budgets are being murdered by Obamacare mandates. The only ultimate answer is higher premiums.



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Posted by MrLSU on 11/14 at 11:50 am to iknowmorethanyou
You just have to keep the number of employees to less than 49. The second employee #50 is added the cost goes up $40k as a penalty for not providing health care to your employees.


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