ObamaCare Plans Come on the Market October 1st. Get Ready

• Annual company compliance cost has climbed to $1.5M
• Overall company self-insured claims experience is under budget for the year, but...
• Premiums for the next plan year will be going up 15-40% depending on which co-insurance plan is selected and which dependent configuration is selected (rates are going up because of the upcoming Cadillac Tax - glide path to compliance)
• Because of the Cadillac Tax, employees are being "incentivized" to move from low levels of co-insurance to high levels of co-insurance where the deductible and max out-of-pocket amounts are essentially equivalent to what would be called a "high deductible" health plan

• First to make employer-sponsored plans more like the plans available on the exchanges (lower Value-to-TCO ratio), and
• Ultimately to make employer-sponsored plans uncompetitive in comparison to exchange plans so employers are incentivized to shift employees to an exchange

Tide1986 said:

I thought I'd give y'all an update on one man's experience with the impact of the ACA on employer-sponsored health insurance:

• Annual company compliance cost has climbed to $1.5M
• Overall company self-insured claims experience is under budget for the year, but...
• Premiums for the next plan year will be going up 15-40% depending on which co-insurance plan is selected and which dependent configuration is selected (rates are going up because of the upcoming Cadillac Tax - glide path to compliance)
• Because of the Cadillac Tax, employees are being "incentivized" to move from low levels of co-insurance to high levels of co-insurance where the deductible and max out-of-pocket amounts are essentially equivalent to what would be called a "high deductible" health plan

As I've indicated earlier, the purpose of the Cadillac Tax is:

• First to make employer-sponsored plans more like the plans available on the exchanges (lower Value-to-TCO ratio), and
• Ultimately to make employer-sponsored plans uncompetitive in comparison to exchange plans so employers are incentivized to shift employees to an exchange

Interrestingly, employees are not happy with what's happening to them, but hey, for some you get what you vote for. Enjoy the bill as it comes due.

Click to expand...

How Obamacare’s “Cadillac Tax” will affect local governments, public employees and local taxpayers

By Dr. Roger Stark MD, FACS & WPC Health Care Policy Analyst
, July, 2014
Key Findings

1. In 2018, local taxpayers could face a large tax increase when the Affordable Care Act’s Cadillac Tax, a 40% excise tax on some health insurance plans, begins.
2. Since the recession of 2008, wage freezes have been common for all workers, but government employees have been much more likely to receive increased compensation through expanded health benefits.
3. The non-partisan Congressional Budget Office estimated the tax would generate $80 billion in new revenue over 10 years. The Cadillac Tax could potentially add a total of $76 million in local taxes for 10 years beginning in 2018.
4. As 2018 approaches, the Cadillac Tax is emerging as a significant financial burden placed by the federal government on state and local governments and will have a major impact in funding essential local services.
5. Public employers will have only two options: either reduce health care benefits for their public workers or pass the cost of the federal tax to local taxpayers.

Click to expand...

The non-partisan Congressional Budget Office (CBO) originally estimated the Cadillac Tax would generate $137 billion in new revenue over 10 years. Last year the CBO re-calculated the revenue at $80 billion, because private employers were already shifting to less generous health insurance plans.

Click to expand...

Tidewater said:

I swear the image that pops into my mind is a bunch of people standing around in a circle, facing the center. Guy #1 slips his hand into the pocket of the guy to his right and takes a dollar from him. The Federal government rep takes his 30% and Guy #1 says to himself, "Hey, I just got 70¢!"
Guy #2 reaches into Guy #1's pocket, pulls out the 70¢, the Federal government rep takes his 30% and Guy #2 says to himself, "Hey, I just got 49¢!"
Guy #3 reaches into Guy #2's pocket, pulls out the 49¢, the Federal government rep takes his 30% and Guy #3 says to himself, "Hey, I just got 34¢!"
By the time this goes around a circle of 50, everybody thinks he has gotten something from his neighbor, but who's got all the money?
That is what ACA feels like.

Click to expand...

bamacon said:

I think Obamacare may be killed in June. This will be the last chance for it to be killed by the SC as it should have been from the outset. Regardless of your political affiliation this law breaches the Constitution so blatantly that it should not have survived even a cursory examination by the high court. This will be Roberts last chance at leaving with even a modicum of dignity remaining on his legacy.

Click to expand...

Tider@GW_Law said:

I'm sure President Trump will have a much better plan for healthcare reform.

Click to expand...

NationalTitles15 said:

You can keep you plan if you like it. No one will have tp change if you don't want o change

Click to expand...

ValuJet said:

All is well.

Click to expand...