Skip to comments.Health insurance choices for small business
Posted on 05/26/2014 7:31:31 PM PDT by kvanbrunt2
Second of a two part series. Part 1 is here.)
When Zimmerman Industries health insurance came up for renewal this year, its carrier was more than willing to continue its existing coverage.
Provided, that is, Zimmerman paid double the previous premium: 100.4 percent more, to be exact.
(Excerpt) Read more at lancasteronline.com ...
What I am doing in my 100 employee operation is telling them to go get insurance on obamacare. I give them the amount I gave before minus the penalty and that’s it. I pay not 1 cent more. And their reimbursement goes down as the penalty goes up. And if they don’t like it, I tell them to vote republican.
Any semblance of a free market is gone in this sector of the economy. I have no idea how this can be fixed.
Assuming you’ve taken this into account: http://www.freerepublic.com/focus/f-news/3160323/posts
I truly hope that strategy works for you. I just read an article that has me a little concerned, though. It basically states that in addition to the fine, there is an excise tax of $36,500 per employee. It doesn’t say how many employees a company must have to meet that requirement. http://www.newsmax.com/Newsfront/Obamacare-employers-IRS-taxes/2014/05/26/id/573326/
It’s not part of the exchange. It is insurance that the company underwrites directly for it’s employees. Insurance companies can process the claims for a fee. the stop loss provisions are what insurance companies have reserves for. The reserves would not be practical for a regular business. thus the stop loss policy.
Oh, and did anyone else notice that a part of Obamacare was a tinkering with the tax code, that jacked up the minimum medical expenses to 10% before you can begin deducting the expenses?
You might be headed for trouble. Obama just rewrote the law again:
* Alaska: Begich (D-AK), Yea
* Arkansas: Lincoln (D-AR), Yea Pryor (D-AR), Yea
* California: Boxer (D-CA), Yea Feinstein (D-CA), Yea
* Colorado: Bennet (D-CO), Yea Udall (D-CO), Yea
* Connecticut: Dodd (D-CT), Yea Lieberman (ID-CT), Yea
* Delaware: Carper (D-DE), Yea Kaufman (D-DE), Yea
* Florida: Nelson (D-FL), Yea
* Hawaii: Akaka (D-HI), Yea Inouye (D-HI), Yea
* Illinois: Burris (D-IL), Yea Durbin (D-IL), Yea
* Indiana: Bayh (D-IN), Yea
* Iowa: Harkin (D-IA), Yea
* Kentucky: Bunning (R-KY), Not Voting
* Louisiana: Landrieu (D-LA), Yea
* Maryland: Cardin (D-MD), Yea Mikulski (D-MD), Yea
* Massachusetts: Kerry (D-MA), Yea Kirk (D-MA), Yea
* Michigan: Levin (D-MI), Yea Stabenow (D-MI), Yea
* Minnesota: Franken (D-MN), Yea Klobuchar (D-MN), Yea
* Missouri: McCaskill (D-MO), Yea
* Montana: Baucus (D-MT), Yea Tester (D-MT), Yea
* Nebraska: Nelson (D-NE), Yea
* Nevada: Reid (D-NV), Yea
* New Hampshire: Shaheen (D-NH), Yea
* New Jersey: Lautenberg (D-NJ), Yea Menendez (D-NJ), Yea
* New Mexico: Bingaman (D-NM), Yea Udall (D-NM), Yea
* New York: Gillibrand (D-NY), Yea Schumer (D-NY), Yea
* North Carolina: Hagan (D-NC), Yea
* North Dakota: Conrad (D-ND), Yea Dorgan (D-ND), Yea
* Ohio: Brown (D-OH), Yea
* Oregon: Merkley (D-OR), Yea Wyden (D-OR), Yea
* Pennsylvania: Casey (D-PA), Yea Specter (D-PA), Yea
* Rhode Island: Reed (D-RI), Yea Whitehouse (D-RI), Yea
* South Dakota: Johnson (D-SD), Yea
* Vermont: Leahy (D-VT), Yea Sanders (I-VT), Yea
* Virginia: Warner (D-VA), Yea Webb (D-VA), Yea
* Washington: Cantwell (D-WA), Yea Murray (D-WA), Yea
* West Virginia: Byrd (D-WV), Yea Rockefeller (D-WV), Yea
* Wisconsin: Feingold (D-WI), Yea Kohl (D-WI), Yea
I fully understand the stop-loss method as a way for companies to address insurance and believe it’s an effective approach to a tough situation. I didn’t perceive SADMILLIE’s approach to be stop-loss so, if I misunderstood that post, I apologize. I took it to be the approach that has resulted in problems with the IRS, as described in the article I linked.
no my mistake — you were replying to him i thot you were replying to me. and yes you were correct in pointing out that the IRS will target the escapees.