'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
Or not. As Byron York reports over at the Examiner:
So when it takes effect in 2014, the law will give employers a choice: Continue to offer increasingly expensive health coverage, or pay a relatively small fine, save a lot of money, and let employees buy their own subsidized coverage on the exchange. The incentive seems pretty clear.
Now, it should surprise no one that more and more companies are exploring the possibility of dropping their employee health coverage in 2014. A new study from the benefits-consulting firm Towers Watson finds that nearly 10 percent of midsized to large companies are seriously considering doing just that, and another 20 percent are thinking about it. Still others don't know. "Many are uncertain how they will respond to the looming impact of state-based insurance exchanges in 2014," says Towers Watson.
How many companies will actually drop their employee coverage? It's impossible to say. But from the latest surveys -- the Towers Watson report is just one of several that have found employers contemplating the move -- it's safe to say that some will, and more could follow.
President Obama had made a clear, unequivocal pledge to the contrary and he said that people would be able to keep their health care no matter what. "No matter how we reform health care, we will keep this promise to the American people," he said. Funny how things change.
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Comments:
Jun '11
Re: 'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
Obama certainly isn't the first politician to tell the American people a bold faced lie, but his ability to say this with a straight face amazed me. Everything about the way Obamacare is structured is about eliminating the private health care system. It starts by moving from an employer based system to the "exchanges" with employers paying the penalty (usually the less expensive option). Then as costs soar, increased subsidies will be required, which will come from increased penalties on businesses or the "wealthiest Americans". Once the employer-private insurannce system has been destroyed, the push to go to a single-payer system will begin.
The sad thing is none of this will make us any healther, given that 80+% of every dollare spent on healthcare is spent treating a preventable condition.
Apr '11
Re: 'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
I find myself in this exact predicament. I've spent years with one insurer for my employees and I. We've enjoyed great service and minimal hassle but the price is going up. I know what service is going to be like with socialized health insurance. I am reminded every time I am forced to ask Medicare for assistance. Nobody ever answers my call. I have to leave a message. Nobody has a name. I have to ask who I'm speaking to. Nobody is in charge. I am always talking to the wrong department. Nobody ever returns my call. My customers get to hear that I've made 3 or 4 calls to different, unresponsive Medicare departments. It's a foolish waste of time for me. I only try because I won't abandon my customers. The funny thing is whenever wants to get ahold of me, nothing could be more important. Everything I'm doing must stop while I try to satisfy them. And then they treat me like I'm crooked. Very frustrating.
Jan '11
Re: 'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
Why do you hit yourself in the head with a hammer? Because it feels so good when I stop.
The justice department should fast track Obamacare to the supreme court and insure it becomes voided. Obama can claim justices are mean and blame them for killing grandma during the next state of the union. If Obamacare gets overturned by year's end the economy just might be going gangbusters by fall 2012.
Obama's new jobs plan - repeal all my previous plans.
Jun '10
Re: 'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
I work for one of those companies who will have to drop our health insurance in 2014. Last year and hopefully the next couple of years we can keep our current insurance plans as "grandfathered" in. If we change one thing we have to follow the new rules, which we will have to do in 2014. One new rule is that 70% of your employees have to take the company insurance. It used to be that 70% of the people who did not have insurance had to take it. Well 50% of our employees are on their spouse's plan, (spouses are teachers, doctors, pilots). If we do not comply with this rule we would be fined $100 per employee per day. That's right $2000 per day. We would definitely drop the policy. Who makes up these rules.. some bureaucrat in HHS who has never worked in a company. Our broker asked Dept of labor if we could require new hires take it and they said no. Nancy said we would have to pass it to find out what is in it.
Nov '10
Re: 'If You Like Your Health Care Plan, You'll Be Able to Keep Your Health Care Plan, Period.'
While losing one's employer-sponsored health coverage is disruptive enough, it gets worse. The average family plan costs around $12K per year, of which the employee pays, on average, about 25%, or $250 per month. However, Obamacare did not equalize the treatment of insurance bought in the individual market with that sponsored by employers; i.e. the individual still has to use after-tax dollars. Even assuming the cost of the plan does not increase (a falacious assumption, to be sure), the employee is then left paying $1000 per month after tax, what he previously paid $250 per month for pre-tax. Enter the subsidy.. thank you benevolent government for increasing my cost and my dependence on you. Unfortunately, that subsidy ends at an income level around $90K per year. If you have worked hard and are in a position where you make six figures; sorry, you just have to bear the cost [insert expletive]. Of course, because of the mandate, you must buy.
This goes along with community rating and guaranteed issue to ensure a margin squeeze kills the private insurance market.
Nice.