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Affordable Care Act and Ramifications Discussion

nysmilenysmile Posts: 5,850Registered User Senior Member
edited September 2013 in Parent Cafe
We own a business. We have 2 full time employees. We were just informed that our medical insurance plan is going up to $40,000/yr!!!!!! That's the cost for our one family plan and doesn't even include the cost of what we will have to pay for our 2 employees. Thanks Obamacare! You screwed us.

How the heck can the same plan we have now go from $24,000 to $40,000 in one year?

Oh! This isn't even a cadillac plan (as Obama puts it). We pay $40 copays for office visits.
Post edited by nysmile on
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Replies to: Affordable Care Act and Ramifications Discussion

  • oldfortoldfort Posts: 16,597Registered User Senior Member
    Wow. Time to find another insurance.
  • nysmilenysmile Posts: 5,850Registered User Senior Member
    We've looked. They're all between $32,000 and $42,000. We have to cross off at least 2 other options because Stony Brook Hospital doesn't even take them. There is one high deductible plan for $22,000/yr for just our family plan portion, but we would be out of pocket personally for a $11,500 yearly deductible.
    Ridiculous!
  • tom1944tom1944 Posts: 5,185Registered User Senior Member
    I thought Obamacare only impacted employers with 50 employees. How does Obamacare set the rate your insurer charges?
  • somemomsomemom Posts: 9,201Registered User Senior Member
    That is crazy! Have you gone online to compare what it would be in other states? Is it s NY thing or across the nation at your ages & plans?
  • razorsharprazorsharp Posts: 6,019Registered User Senior Member
    That's amazing. Can you get access to a trade organization or other group plan?
  • hellojanhellojan Posts: 1,623Registered User Senior Member
    So, it's going from 24 to 40 after adding two people? Seems reasonable. You're just going to have to find a way to make up the difference.
  • nysmilenysmile Posts: 5,850Registered User Senior Member
    We don't have to pay for health insurance for our 2 full time employees, but my husband is a great boss and has paid for their insurance for a few years now. He does not want to yank it from them.

    I mentioned Obamacare because I was under the impression that the thought of Obamacare in the near future is pushing the medical insurance company's to skyrocket their prices.

    We are stuck. We can have our business suck it up or we can go for the cheaper high deductible plan which would make us and employees personally come up with the $5500/person or $11,500/family deductible before the insurance kicks in. We know that our employees can't come up with that kind of money.
  • nysmilenysmile Posts: 5,850Registered User Senior Member
    hellojan---NO! We currently pay around $24,000/yr. for our one family plan and 2 single plans for our employees. This same plan for all of us will increase to $40,000!

    *this corrects the info in my first post.
  • ohiopublicohiopublic Posts: 788Registered User Member
    I've found that individual policies are cheaper than group rate for my small business. Do you have a group with a lot of claims? The other poster is right about obamacare and size of company. Sounds like the problem is with the insurance company. Our rates have decreased by shopping.
  • tom1944tom1944 Posts: 5,185Registered User Senior Member
    Did NY State Insurance Department okay the rate increase?
  • geeps20geeps20 Posts: 3,250- Senior Member
    "If you like your plan, you get to keep it"...sure, but you didn't tell us it would cost 50% more..what a disaster
  • nysmilenysmile Posts: 5,850Registered User Senior Member
    tom, they must have Okayed it because we have the quotes right in front of us.
  • geeps20geeps20 Posts: 3,250- Senior Member
    How does Obamacare set the rate your insurer charges?

    are you really asking this?..they have to up prices to cover all the newbies....no way around it...BC/BS sent a letter out explaining the increases for next year..they specifically blame obamacare
  • SnowdogSnowdog Posts: 1,488Registered User Senior Member
    It really has nothing to do with Obamacare. Blame the middle men (insurance companies) who use any and all excuses to price gouge. I've had to buy outrageously priced high-deductible individual plans that go up 10-15% a year for the past 15 years.
  • nysmilenysmile Posts: 5,850Registered User Senior Member
    ohio, maybe it has to do with being in NYS. Everything here is more expensive.

    We can go cheap for about $22,000/yr for our family plan and 2 employees, but that would leave the employees responsible for the $5500/individual/yr deductible before insurance kicks in and our family would be responsible for coming up with $11,500/yr. before insurance kicks in (heck of a lot of money to put us to take of our personal pocket per year). We know our employees can't afford such a high deductible and we don't want to put them in that position.
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