Is Anyone -- Anyone -- Surprised by This?
Barack Obama on the stump promoting Obamacare in 2009:
Let me be exactly clear about what health care reform means to you. First of all, if you’ve got health insurance, you like your doctors, you like your plan, you can keep your doctor, you can keep your plan. Nobody is talking about taking that away from you.
Now the promises of 2009 meet the reality of 2012. The findings of a new report out of the House of Representatives, as reported by the Daily Caller:
A new report prepared by Republicans on the House Ways and Means Committee suggests that companies would save billions of dollars by ending health insurance coverage for employees under Presidents Barack Obama’s health care reform law.
Based on an analysis of health care data received from 71 of the America’s Fortune 100 companies, the report found that if the companies terminate insurance coverage in favor of paying the $2,000 per employee penalty, they would incur a financial benefit.
According to the report, companies surveyed would save on average $400 million — or a total of $28.6 billion in 2014 — simply by putting their employees on the government exchanges.
Between 2014 and 2023, the report says, the average savings per company would be nearly $6 billion, a total savings of $422.4 billion.
This, of course, was the problem all along. Whether or not "you" keep your plan is inextricably tied to whether or not "you" pay for your plan. If, like about 45 percent of Americans (according to the most recent Gallup numbers), you receive your insurance through your employer, the decision isn't yours to make.
Points to the president for honesty. No one in the government is taking your current health insurance away from you. They're just making it so unpalatable for employers that your boss will do the dirty work for them. Squint hard enough and you may be able to see the distinction.
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Jul '11
Re: Is Anyone -- Anyone -- Surprised by This?
Our HR folks said last year that given the choices they would be facing regarding coverage, it made zero sense to keep the current insurance because of the penalties paid for keeping the current insurance - and we'd all be tossed (like salad) into the Obamacare Pool of Neverending Gratuities. In other words, President Barry and the Congressional Wonder Twins were going to make it financially untenable to maintain current insurance - so employees would get kicked to the curb on this one, with no voice or choice in it. I'm sure some companies will eat the cost, if they can, out of principle, but it will be a darling few.
May '10
Re: Is Anyone -- Anyone -- Surprised by This?
Tommy De Seno
Trace Urdan
Tommy De Seno
Now the employee has to go out and buy the $12,000.00 insurance that he was getting free form his employer.
Employers will save $10,000 and the employee will loose $12,000.00.
Am I doing something wrong there? · 1 hour ago
Strictly from the perspective of the dumped employee, the subsidy provided under the government plan might exceed the employer subsidy. After all, as a self-serving political device, I can't really see the government charging a premium greater than what the employee paid under his employer. As a corrupting, intransigent entitlement program, that formula would not work. · 1 hour ago
You keep changing my hypo to an employee who chips in. Many don't. · 17 hours ago
Didn't know that existed. Must be nice. Not much sympathy from me for those folks.
Re: Is Anyone -- Anyone -- Surprised by This?
Trace Urdan
Tommy De Seno
Trace Urdan
Tommy De Seno
Now the employee has to go out and buy the $12,000.00 insurance that he was getting free form his employer.
Employers will save $10,000 and the employee will loose $12,000.00.
Am I doing something wrong there? · 1 hour ago
Strictly from the perspective of the dumped employee, the subsidy provided under the government plan might exceed the employer subsidy. After all, as a self-serving political device, I can't really see the government charging a premium greater than what the employee paid under his employer. As a corrupting, intransigent entitlement program, that formula would not work. · 1 hour ago
You keep changing my hypo to an employee who chips in. Many don't. ·
Didn't know that existed. Must be nice. Not much sympathy from me for those folks.
There should be sympathy - there is usually a salary trade-off for the coverage. What I see happening is the employee will lose the insurance bene from his employer who now pays a penalty, get no salary increase, and have to replace the insurance.
The employer will actually save money while the employee gets crushed.