Posted on 11/23/2014 1:32:22 PM PST by Libloather
RALEIGH — Already socked with rising premium costs due to Obamacare, Southern Elevator has delayed planned growth and job creation as it contemplates up to $800,000 in added annual health insurance costs a year from now, when employer mandates for medium-size businesses kick in.
“Our health care insurance agent is estimating that we will have a 10 percent increase this year that is currently being priced,” said Rodney Pitts, owner of Greensboro-based Southern Elevator.
That is on top of increases totaling 44 percent since 2012. The company now pays up to $20,000 annually for each employee with spouse and dependent coverage, which is about $9,000 more than it paid a few years ago.
“If we had to comply with the employer mandate, which would put again more Obamacare plan features in it that do not improve the coverages for our employees at all, we estimate that our increase would be 38 percent,” Pitts said.
(Excerpt) Read more at carolinajournal.com ...
Dem's path after Obamacare: down, down, down
"After (the midterms), the conditions for repeal and replace may be even better than most people think," writes a Senate Republican aide in an email exchange.
The entire economy is going to go into shock when a huge amount of disposable income is sucked up by health premiums. Folks have no idea....
I know someone who works for an insurance company. She said they have to pay millions in fees for obamacare. So premiums are going up. Of course, they are blamed rather than obamacare when people call there.
How to fix it.... spend the disposable income on something easy to resale, before Obamacare kicks in!
Opps, what you buy may not be easily resold if no one has disposable income!
20k? Wow!
Yup. Businesses that have higher employee health insurance costs will not be able to offer raises or bonuses without raising the price of their products/services. If businesses raise prices, we're all squeezed.
Companies that decide to continue offering healthcare are going to opt for low cost "bronze" plans which means the employees will see larger out of pocket costs.
Remember the bh0 mind-think: “We don’t need those small businesses, all we have to do is print money and put more folks on food stamps so they will become dependent upon us and thus owe us their votes.”
That's "what if," for 2015 coverage.
It gets real in 2016, when the Obamacare mandates kick in for medium-size businesses employing between 50 and 99 workers, according to the article.
20k? Wow!
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A family member’s insurance is going up to $1,850/month for his family so that’s $22,200/year. His portion is $850 or $10,200 annually with a $5K deductible, $30 copays. The company pays $12,000/year. His gross income is about $40K a year so just health insurance is taking a major hunk - over 25% of gross income and that is just plain confiscatory. He’s looking at a Christian medical expense sharing organization which will seriously reduce his costs (and it qualifies under Obamacare so you do not get the penalty for no insurance).
I generally get blank stares when complaining about the $18k I’m paying each year in health insurance costs.
The vast majority have no clue what it means to pay for health insurance — it’s often something the “company pays” so it’s not their problem. /smh
That’s insane.
The sooner we get away from employer provided health insurance the better. When everybody buys on the open free market prices will go down.
Well, a percentage is cut from the paycheck and the rest taken as an overhead expense. Not sure there’s a direct total cost to the individual employee. For example, if the employee is suddenly required to pay for his own health care costs, would his paycheck increase by $15k/year? Unlikely.
That’s insane.
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He and his partner own the business (about 30 people) so it’s killing the business, too. The good news - the Christian expense sharing is about $500/month for the family & the business will pay it all so his out-of-pocket on the base cost is “0” and the company is out $6K vs $12K. He will have to pay for normal/sick office visits & his drugs, but he and the business are still WAY ahead.
Free market vs government-wrecked insurance - big difference.
The goal is to put them out of business and their employees out of jobs.
The control freaks don’t like free markets.
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