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Wife and I run a small(er) business, employing about 75 people. The only consequence for us was on overall reduction in our group insurance rates. Our rates are down about 15% from what they were prior to ACA.
Now some of our competitors who only offered minimal coverage or no insurance, have definitely seen a cost increase. Wow, we now have a more level playing field. (tu)
There are some small businesses that provide insurance for their employees. Sometimes it's because the owners themselves need to have a big enough group in order to get insurance for themselves...;)
Speaking of healthcare...Did you know that if you walk into an office or the hospital requiring an appointment or a procedure you will be charged either a co-pay (if you have Medicare or insurance) and will have to pay up front or agree to a plan if you are out-of-pocket. BUT, if you have Medicaid, you don't pay a thing. Government-run medical care is a great deal for some.
TN_Travelers
We ran two businesses on the Mainland and have seen our group rates double since ACA. (Steady increase each year). Same for most of our business associates. I haven't heard that anyone's went down here. Maybe we all need to be in business there!
From my reading, TN was offering a "good" insurance plan to his employees prior to ACA. With similar coverage, rates went down. Apples to apples if you will.
Is the plan you offer now as required by the ACA similar to what was offered prior? is it apples to apples or apples to oranges?
Just curious.
We have a business in the states. Our private plan is a cadillac plan. Very good coverage. It has gone up about 40% since the ACA. A similar plan within the ACA is even more. Our plan cost went up so much because most of our employees are young men in their 20s and early 30s. Before ACA their rates were extremely low. Much lower than a woman of the same age. After ACA their rates went up to match the rates of childbearing women. Some of our female employees did not want pregnancy coverage and their rate were low as well. After ACA pregnancy coverage was mandatory so their rates went up as well. I don't understand why the coverage for men had to go up and match the cost of women with pregnancy coverage but it did.
TN_Travelers
We ran two businesses on the Mainland and have seen our group rates double since ACA. (Steady increase each year). Same for most of our business associates. I haven't heard that anyone's went down here. Maybe we all need to be in business there!
From my reading, TN was offering a "good" insurance plan to his employees prior to ACA. With similar coverage, rates went down. Apples to apples if you will.
Is the plan you offer now as required by the ACA similar to what was offered prior? is it apples to apples or apples to oranges?
Just curious.
Look a lot of our competitors saw large increases in their costs since the had minimum (or no) plans. We always attracted top talent because we took good care of our employees. Now the costs are closer and since we have the talent, our business is growing like crazy.
We never offered a "Cadillac" plan, always a solid plan that was affordable but offered very good coverage. Never had to change a thing when ACA was implemented, except reduce costs for all. Had the same plan for us as the employees and always consulted with them on any plan changes so there was full buy-in. Yes, "Cadillac " plans went through the roof. We have not had a single employee quit in the past 6 years (and they bring in new talent whenever we need to hire).
Got to compare "apples to apples"! (Not pineapples).
The previous practice was discriminatory against women.
Age can still factor into rates but gender cannot.
In my opinion then women's rates should have been lowered instead of young single men in their 20s having their rates raised to equal rates of women with pregnancy plans which are mandatory under ACA.
The previous practice was discriminatory against women.
Age can still factor into rates but gender cannot.
In my opinion then women's rates should have been lowered instead of young single men in their 20s having their rates raised to equal rates of women with pregnancy plans which are mandatory under ACA.
The market is always right and for profit insurers operate altruistically.
TN_Travelers
We had a gold plan at the prior to ACA and the exact same plan rose by about 20% the first year. We've since shopped around several times due to major increases, always trying to keep the similar benefits. Our state has seen increases anywhere from 10-20% year after year. If your healthcare costs have gone down, then that is great! I would say that is not the case for any small business owner I have spoken with in our state. At the beginning of ACA we were paying less than $800/month for a family of 4. We now pay almost $1500/month for the most similar coverage we could find. Small business coverage.
BCBS has left most of the people using the exchange in our state high and dry. They changed their network; the exchange plans (people getting a discount through obamacare) AND independent plans (anyone buying individual insurance outside of the exchange) are both the exact same network. They decreased their payment to Dr's and Hospitals and very few signed on. So you can pay for the plan but in most regions there are almost NO doctors you can go to. In my city, none of the local hospitals are on the plan. If you use an out of network Dr. or Hospital they pay ZERO. There is no longer any out of network coverage. So basically, you can pay them a monthly fee AND pay all your medical bills of you aren't fortunate enough to live near one of the few providers that participate in the new network. They forgot the part about ensuring there were going to be providers who will take the insurance in the mandates.
This thread has become sooooo great from the original question, lol.
Thankfully I joined the military and now have lifetime insurance. It's really not bad. I'm worried about it in the VI however. Had meetings with my Dr''s about my move already.
I think Don Trump will hire someone to fix whatever needs fixing. He may not be a war hero or sucking cash from a superpac which makes me "think" that the right people will just be hired to do the jobs that need getting done. Like a business.
I'm not sure I can recall any President that didn't get a parade on day one and boot in the arse on the way out!! Lol
Always some scandal or something.
I bet if you write a letter to Donnie Boy, he would just buy the virgin islands and (make it great again)!!!!:P
