Our employee heath insurance renews each year on April 1st. As most companies do, we conduct an annual review with our insurance broker prior to renewing the contract.Obamacare to cost many policyholders more in premiums
WASHINGTON (AP) A new study finds that insurance companies will have to pay out an average of 32 percent more for medical claims under President Barack Obama's health care overhaul.
A few points that relate directly to Obamacare were brought up at the review for this year:
1. Due to a good history on health care costs, our premiums for 2013 will increase only 4%. This is far below the national and regional average.
2. Come January, 2014, if current projections hold true, companies like ours with a good track record of low health care costs will be pooled with other companies and groups of individuals with a poor history of containing health care costs. This will result in our employees seeing increases in the range of 75%- 100%.
3. We currently fund, at company expense, Health Savings Accounts, for our employees. The ability to take advantage of tax advantages for funding HSA's for our employees will vanish.
Obamacare - for our employees - will mean a doubling of the health insurance premiums and a discontinuance of the HSA benefit.
Obama said that health care costs would decline. He lied and he knew it when he said that.