<p>NY - so what percent do you have your employees pay? We’re already trying to figure out what to do about this and haven’t come up with anything yet. We have 20 employees, so imagine that bill increase.</p>
<p>We don’t make them pay anything towards their medical. We know that they can’t afford to do so. The rents (and food) around here cost a fortune and most of their paycheck goes to basic living expenses.</p>
<p>There are many horror stories like the OP’s. In my area, many companies are cutting back on employee hours which allows them to keep the folks employed, but means they don’t count as “full time”</p>
<p>While it is good that 30 million uninsured will now be covered, someone has to pay for this and that would be us! I think we should all recommend that our kids work for the government or marry someone who does since that is about the only place left to get affordable health care (for life)</p>
<p>I am mad as heck and sick to my stomach about our rate increases and am really angry at the media for choosing not to report on this for the past few years. No of us should be surprised by this.</p>
<p>some warned what was coming…too bad so many didn’t pay attention</p>
<p>The rates have been going up like crazy. However, this is the biggest increase we’ve ever been hit with in one shot regarding medical insurance.</p>
<p>Is this only for individual and small groups? I have not seen rate increases like this for large groups.</p>
<p>It has to be a pre existing condition. If not then go to individual plans and save $$$.</p>
<p>tom1944…small business is under attack…has been for a while now.</p>
<p>I was asked to participate in a survey regarding the upcoming exchange plans in CA. The long and short…our current small group policy which runs $1100/month for our family of 4 (H and I are the employees) will rise to $1600/month for LESS coverage - basic plan that is.</p>
<p>Folks the only way this can go down is if you have been responsible and paid for your own coverage - or those of employees - your rates will go up dramatically. SOMEONE has to pay and the only ones to go after are the ones already willing to pay.</p>
<p>For business owners…look at every option to decrease your own personal income below the amount where subsidies kick in. Not possible for everyone, but for some it is a temporary way out of this mess.</p>
<p>As for large groups another exemption is in the works. It amounts to an extension on the requirements for the group plan to meet Obamacare standards. This is to prevent a flooding of the exchanges by folks who have been informed their plan is no longer available.</p>
<p>sosomenza, No. This is for the typical medical coverage with $40 copays for doctor visits, $15/$35/$70 copays for prescriptions, etc.</p>
<p>Another piece of the puzzle is that we live in a small town area. We have to carefully pick a plan which is accepted by the area doctors/hospital as well as the nearest major hospital (Stony Brook) should something major come up. Otherwise, the plan is useless.</p>
<p>“I think we should all recommend that our kids work for the government or marry someone who does since that is about the only place left to get affordable health care (for life)”</p>
<p>I saw some stories recently that many in the Govt are leaving rather than pay the premiums as mandated. The Government was estimated to have 10% in their ranks who did want to be insured, mostly the younger people who thought themselves healthy and not needing a 400$ tab each month.</p>
<p>Did someone have an expensive illness that caused the jump in premiums?</p>
<p>^No. This is simply because of huge rate hikes.</p>
<p>Moderator’s note: </p>
<p>This is a serious issue for many people. As long as politics are not brought in, this thread may be kept open.</p>
<p>Thanks for the warning. I definitely wasn’t trying to make this a political thread. I just needed to vent because I’m in shock at the rate increases across the board for our options regarding our soon to be chosen medical insurance policy. Shocked isn’t even a strong enough word to describe my thoughts regarding this increase from one year to the next. We’ve always had big increases, but this is insane!</p>
<p>Can you look into HSA individual plans for you and your employees? Are they still offered in NY? If so, it might be cheaper to have the $5500 deductible and fund the HSA account, at least then money unused rolls over to future years. </p>
<p>We’ve had that $5k+ deductible for years and years, basically you live like you are uninsured as most day to day expenses are out of pocket (hey, if I fund my own HSA, that money is still mine so I don’t spend it freely) and yes, it really hurt the year we hit our $5k+ deductible and $11k+ out of pocket, but I am grateful that I had that money sitting and waiting to be used.</p>
<p>Logistically Obamacare is requiring or allowing premium increases due to the additional items mandated to be covered.</p>
<p>I’m terrified to find out what my insurance cost will be next year. I’m disabled and on SSDI, but still have a year to go before I’m eligible for Medicare. My private individual health insurance now takes up approx 60% of my SSDI each month. My former employer is a “faith based” organization, and they don’t have to pay taxes…so I’m not eligible for short-term disability coverage or COBRA. It’s been a fun (not) financial ride so far.</p>
<p>I’ve tried to understand Obamacare, but really I can’t make heads or tails of what it means for me. I need to find someone who can help me figure out.</p>
<p>Businesses with 2 employees are from exempt ACA. Correct? </p>
<p>The small business component of ACA has been suspended for a year. Correct?</p>
<p>Health Insurance companies will make more money under ACA. Correct?</p>
<p>Health insurance companies are not subsidizing poorer people. Correct?</p>
<p>Lifetime caps are eliminated and there is a cost with this. Correct?</p>
<p>Preexisting conditions can not prevent you from buying insurance anymore. Correct?</p>
<p>Health insurance companies never lie except in California. Correct?</p>
<p>Have you considered starting a HSA (as somemom mentioned), getting a high deductible policy, deducting the max on your tax return…and telling your employees they’ll have to take care of their own health insurance because of these increases, but giving them a raise? I’m not saying this is a great solution, but how might that price out?</p>
<p>I’m sorry for this misery. I guess we knew that someone would have to pay for all this, but I’m sorry that it has to be small business, especially those who were generous enough to take care of their employees even though it wasn’t required.</p>