<p>We are a small business that has always provided health insurance coverage for our employees. Our policy year is September thru August. We have just received renewal info from our health insurance broker, and it is a shock – 19% increase for a policy that isn’t even equivalent to what we have now. Anyone else experiencing sticker shock? </p>
<p>My DH is self employed and a cancer survivor. Our private health insurance is 2K per month. Unreal.</p>
<p>DH is a small business owner who used to provide health insurance for his employees, and paid 100% of the premium. Several years ago, he started having employees pay a portion of the premium. A couple of years ago, he stopped even doing that. Premiums were getting ridiculous, and his employees were getting older which only exacerbated the increase.</p>
<p>We have had double digit increases over the past several years, combined with decreased coverage, higher deductibles and increasing coinsurance. ACA or not, this problem has been going on for years and years. </p>
<p>As a small business owner we were more aware of the problem than the average person who’s insurance was paid by their employer. Now with “Obamacare” I feel like people are finally paying attention, but unfortunately acting like(or actually believing) this is a new problem. </p>
<p>You’re right that this is not a new problem.</p>
<p>Well, I don’t think anyone really believes it’s a new problem, just an unsolved and worsening one for some unlucky people. And, yes those with employer insurance are really living a whole 'nother world.</p>
<p>I feel your pain. My husband is self-employed and we pay for individual coverage for ourselves and our children. What we are spending is jaw dropping. So far we have avoided joining the ranks of the Obamacare insured (fingers crossed that it stays this way). I have heard too many horror stories from those who now have it to want join them. So, we soldier on paying through the nose while praying that we can keep it. What a crazy situation to be in. </p>
<p>I will say that I am surprised at your surprise. We’ve had stunning policy cost increases for several years now. It is not a new problem at all.</p>
<p>CTTC, you have to shop your plans every year. </p>
<p>My daughter is an actuary and she was showing me some stuff. One group had two insurers. One insurer wants to increase rates 15 percent. The other wants to increae rates 2 to 3 percent. The insurer that wants to increase rates 15 percent had a couple of large claims.</p>
<p>If you are in a small group plan and there are large claims, even if those claims aren’t yours, your costs are going up.</p>
<p>I am glad you started this thread CTTC. There are other discussions going but very divided and I feel the comments people like us ( small business owners ) go ignored. We just received our renewal and the increase was 57% ! It isn’t possible for us to pay that . We have had a hard time keeping our plan as it is. We live in NJ…have other friends who also are small business owners and they are seeing increases that range from 30 to a whopping 87% increase.
It’s insane !</p>
<p>Those are insane increases. </p>
<p>Indeed they are stark…I have heard about people all across the country that have been in the situation we now find ourselves in . Now it has really hit home for us. We have been struggling to keep our heads above water as it is since 2008 . We were affected by Hurricane Sandy tremendously , now this…it is very frustrating that supporters of ACA turn a blind eye towards us….we were the very people that are directly impacted by the lies told in order to push this mess of a law through</p>
<p>You have more than 25 employees? You don’t qualify for tax credits?</p>
<p>We do, although they are largely seasonal and also mostly minors and dependents . We rush to get through our annual audit with the payroll reports that are based on year round employees. Tax credits are not enough to offset our costs. We are literally down to ONLY our immediate family , although it could be made available to employees who need / want coverage…not one of them wants it because they also cannot afford it . One of our employees enrolled in ACA , but decided instead to not pay the premiums and take a hit if the IRS comes after him. He is a 28 year old single male.</p>
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<p>It probably varies by state? We had Anthem individual insurance for years, it was expensive and the benefits were terrible. The “community value silver” insurance is the best I’ve ever had in terms of what it covers, the deductible is 25% of Anthem’s, and the premiums are substantially lower. I love it. </p>
<p>:) 28 year old single males. </p>
<p>Aren 't the costs around $145 a month for this young male?</p>
<p>We know many businesses that have gone to subcontracting rather than having employees, but it likely won’t work for many types.</p>
<p>For ourselves (been subcontracting for many years - not recent - so no employees other than family), we feel fortunate that we can belong to one of the Christian health shares. That has worked well for us, but certainly won’t be a solution for many. It’s too bad that ACA doesn’t allow more health share groups like these to form to include more of the population rather than just a small portion. Removing profit decreases costs a bit. Our family pays roughly $400/month and has better “coverage” than we ever did back when we were going the insurance route (12 or so years ago).</p>
<p>" Aren 't the costs around $145 a month for this young male? "</p>
<p>I believe his rate was approximately $195 per month , but we live in a high cost of living area. He pays rent and high auto insurance so while it probably seems like a pittance to others, an extra $200 a month is a burden for him</p>
<p>I understand. My son lives in NY. It is not easy. He didn’t want health insurance either. And I am paying for it. He still didnt want the insurance. :)</p>
<p>Creekland. Wow! What a rate!</p>
<p>We own a small business as well. We used to cover everyone 100% We now ask they contribute 20%. I’m in the medical field and I’ll give you interesting stats. In the state of NC - 15% of the population has medicare, 30% is uninsured, 22% is commercial insurance 33% is medicaid. </p>
<p>In my business I have followed insurance coverage for 15 years. There has been 0 difference in the uninsured rate. All I have seen is commercial coverage go down and state medicaids go up. </p>
<p>In my state you can make 47,000/year and qualify for medicaid. </p>
<p>We are self employed and buy insurance for our family. Last year our premiums went up so I shopped around. DH was denied by every insurer due to an isolated episode of atrial fib. So the kids and I got a medically underwritten policy and he got an ACA policy which prohibits discrimination on preexisting conditions. Thank goodness for that proviso!</p>
<p>Unfortunately my policy does not cover mental health care at all so I have been paying out of pocket to treat my daughters anxiety. I may end up switching us all to the obamacare plan. It is inexcusable that companies can refuse to pay for mental health care. Illness is illness. If I ate Big Macs for every meal, didn’t exercise and drank a six pack every night, my insurance would pay for my statins and bypass procedure. </p>
<p>But it would rather not pay for certain conditions before they become a bigger issue. </p>
<p>We pay thousands and thousands of dollars a year in premiums and deductible and out of pocket. I have contemplated getting a part time job at Starbucks or Trader Joes strictly for the benefits. </p>