Posted on 11/03/2018 11:33:37 AM PDT by EVO X
Nancy Sobin knows her way around paperwork. She started her own business three years ago, helping small business owners and elderly clients manage their finances. That's when she turned to the Obamacare exchanges for health coverage.
"I was fortunate enough, because I was just starting my business, to get a subsidy … and it was pretty good insurance" for about $300 a month, said the owner of Professional Paperwork Services in Lawrenceville, New Jersey.
But as her business improved, her insurance options changed last year.
"I didn't get the subsidy anymore, because my business went well," Sobin explained. So, she switched plans to "the least expensive one I could get — and it was $750 a month."
With the Nov. 1 start of 2019 open enrollment on the Affordable Care Act exchanges, the New Jersey native says it looks like she may have to change coverage again.
"My same plan looks like it's going to be about $150 more per month" in 2019, or $900, she said.
(Excerpt) Read more at cnbc.com ...
Because 1. The Republicants don’t want to repeal it, and 2. The democraps are running on restoring it. It’s time that Trump says, to hell with both parties and recind the 0blama EO exempting them from mandatorily buying 0-Care.
After Tuesday, New Speaker Jordan...end obamacommiecare...
My Anthem $11000 deductible plan for my family of 4 $605/month to $653/month...a few yrs back same plan was $400/month. I pay most things cash or get modest Anthem discount. HSA limit won’t cover my premium total for the year, I think it caps at like $5500/yr.
Not likely for a couple in their mid to upper 50's
2019 HSA annual limits: $3500/single; $7000/family. These amounts in no way cover the sky high deductibles on Obamacare crap policies.
There isn't much room to rates much higher.
She’s not that great at managing finances. She’s not “playing the game” correctly. Don’t grow 1 business. Split it into multiple businesses such as one to provide services, one to do sales and marketing, one to buy and lease equipment and furniture, and one that acts as an employment agency. Keep the one that is responsible for employment small enough to qualify for subsidies.
I’m not really advocating cheating, but that is how to “play the game” so to speak.
I am no CPA, this is not tax advice, but it seems that the new tax laws with 20% max rate on corporations is about half the max rate for individuals, S corps and LLCs which tax income at the individual rates (36%-39%+surcharges). It is for the first time an incentive to have C corporations instead of LLCs, and keep the profits inside the corporations, pay the 20% rate instead of the apx 40% rate, and use that extra money to finance growth and some other of your lifestyle as allowed by law. You create separate corporate entities each with a low profit margin to lease yourself equipment, hire your employees, provide yourself services, and write off the expenses between your multiple corporations. You can even lease yourself a car and write off up to 50% of the cost as it is used for the business.
For the first time in many years, our small business health insurance had no increase in premiums, no increase in deductibles, and no apparent shrinkage of provider networks.
This is after our premiums doubled and our deductibles almost tripled since obamacare was imposed.
“$2452/month??? Is this a typo?”
No typo. Premium for husband and wife age 62. Bronze plan. No subsidy. Bought directly from BCBS.
That seems to be the general trend this year. I haven't seen any mention of cost reductions for the upcoming year.
“I haven’t seen any mention of cost reductions for the upcoming year.”
Well... actually... our premiums DID go down in the aggregate. By about $9/month. Lol.
“That’s exactly why. The Koch Bros. types agree with Soros more than they disagree. Socialized medicine, open borders, etc. They love it all.”
Big business offloaded the cost of retirement on employees in the 1990’s and 2000’s when 401K and IRA plans replaced defined benefit pensions. Over time employer matches to 401K plans have been reduced or eliminated. The savings went to higher compensation for executives and the bottom line.
The hidden agenda of business today is to get out of the healthcare insurance business by having Congress pass single payer, government financed, medical insurance. Obamacare will not be repealed because it will ultimately be the foundation for single payer. Medicaid was expanded during the first round of Obamacare. When the Democrats regain power, expect Medicaid to be expanded again resulting in more people in government paid medical care. In addition, the first phase of “Medicare for all” will be implemented with employers and employees “voluntarily” paying into a government health insurance plan similar to Medicare. Employer contributions will be fixed so over time increasing costs are paid through higher employee premiums and government subsidies. The private insurance industry will go away since it will not be competitive with government subsidized “Medicare for all”.
Even if the GOP retains both houses of Congress, don’t expect another vote for full repeal of Obamacare. Don’t expect the wall to be funded either.
What about deductibles and office visits costs? I am healthy, so I don’t know..
Good thing she had her own business. I worked for wages & in all my working life never had any insurance for more than a few months on an irregular basis before Medicare kicked in. My wages were such that almost any health insurance premium was well beyond having it & eating regular as well.
There were some minor technical changes to the plan, but deductibles and co-pays are the same. All the providers our employees use are still in network. No obvious decreases in benefits.
Because we are a very small group, and insurers in our state tend to reconfigure the plans every year, we normally get shifted to a new plan, and receive all new cards. But no shifts requiring creating a new plan, and issuing new cards.
“may have to change”
Right...
5.56mm
OMG!
The bastards have been intent on bankrupting this country and everyone in it who ever had a decent life.
The GOP was never serious about repealing Obamacare for the same reason they restored the Medicare cuts from the original Obamacare law: because Obamacare as it stands now screws younger people for the benefit of older people ... and older people are more likely to be Republican voters.
There's nothing "hidden" about this. In fact, anyone with an ounce of business sense should see the wisdom of this approach. Same goes for the 401(k) plans and IRAs replacing defined benefit pensions.
It's ludicrous for Americans to live in a dream world where employers are expected to pay for their employees' medical insurance, and to pay exorbitant costs associated with people who aren't even working anymore and contributing to the employer's bottom line. If you work for me you wouldn't expect me to pay your auto insurance and life insurance premiums, would you?
Even before Obamacare was passed, we had a business climate in this country where employers had a huge incentive NOT to hire people ... because each new employee brought too many overhead costs that often could not be justified in a competitive environment.
I buy private insurance with no subsidy. I'm retired but too young for Medicare (I'm 61.) I, my wife and college-aged daughter by a BCBS Bronze EPO plan that is $1735 per month, with a $9,600 Family Deductible, a $13,100 Out of pocket Maximum, 40% Coinsurance and NO out of network coverage.
None of the providers I've used in the past 20 years will contract with this type of plan (EPO). To get the PPO with the better network (my docs) would cost me $2292 per month. Unfortunately, the higher premium would not offset my other out of pocket or out of network costs. As a result, I must negotiate cash rates with a few of my long term docs whom I trust for advice, but any significant care must come from other in-network sources.
Couldn't keep may plan; couldn't keep my doctors; and I pay through the nose for any coverage. So much for the "Affordable Care Act."
2019 HSA annual limits: $3500/single; $7000/family. These amounts in no way cover the sky high deductibles on Obamacare crap policies.
...I didn’t know it went up...makes me happier...almost 11 months will be deductible now...not sure why Pubbies didn’t tout this improvement.
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