The Cost of Care

The cost of health care has been on the rise, and employer-sponsored insurance is on the decline. The Affordable Care Act will affect the health care trend in a big way, and it has important implications for the nation’s small businesses. Check out the information below to learn more, and tell us what you think.



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The Cost of Care

The cost of health care has been on the rise, and employer-sponsored insurance is on the decline. The Affordable Care Act will affect the health care trend in a big way, and it has important implications for the nation’s small businesses. Check out the information below to learn more, and tell us what you think.

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Comments

Alcie Smith 9:15AM September 06, 2013
For couples who both work for small business (under 10 employees) it is a battle. One has coverage under their employer and one does not. This system put a very big expense on people who make just over the 400%. First year we plan to pay the fine. Second year, well hopefully the people we see this is not fair and place a burden on people who do pay out of pocket. This is mostly true with people who are older. NOt a fair system
Glenn Miller Insurance 10:51AM April 24, 2013
Health carriers are required to submit their plans/prices by April 30th, at least here in Oregon. There will be four basic plans that have co-insurance for 40% (bronze), 30% (silver), 20% (gold) and 10% (platinum). CoverOregon.org has a individual/family calculator but it is based on national numbers so is not blessed with true numbers. Once you start playing with the calculator and see the cost of plans and size of the subsidies, it begs the question "how are we going to be able to afford this as a nation?" The carriers feel the feds are not providing them the information they need to meet federal requirements. They understand the objectives but are waiting for guidelines to implementation because early in the process they found out doing it the best way for them did not get approval from the feds so now they wait until they get specific instructions. Oregon is completely behind implementation but we are broke too. We will see how things go. Sign up starts Oct.1 and plans become effective 1/1/14.
Heather Stone 12:29PM February 23, 2013
I think many businesses (and workers) are concerned about the implications of the new healthcare regulations...despite all the official assurances. Thanks to member Ryan Donegan for sharing this infographic with the BizSugar community.
Becky Langlois 10:24AM February 01, 2013
Our company is in the process of figuring out how many of our employees are full-time, etc. Our largest group of employees (about 87 every pay period) are caregivers that work as needed. Not even sure how we will be able to set up health care deductions for the ones that want the health care if we make the decision to offer it.
Harold Gardner 11:01AM January 15, 2013
Watching the cost of healthcare should be interesting over the next year or few.
Shawna 10:45AM January 09, 2013
I am a business with only 8 employees - 5 of those are family. How does the new healthcare act specifically effect me? If I don't have to offer anything then what does that look like for each individual person of our company, will we get fined individually for not having our own health insurance?
R. Lawson Construction Co., Inc. 6:31AM January 09, 2013
We have all seen lots of "information" flying around about what will and won't be covered, and how coverage for older employees cannot exceed 3x the base cost for younger employees, etc. What we haven't seen is how much these base costs are going to be. I have also read that there will be 4 levels of care available in the Health Exchanges, and I also saw a cost estimate of $400 per month for a single employee at the lowest care level. My point is, until we all have a good idea what the costs to secure insurance through the Exchanges, it will be impossible to make any meaningful comparisons. Hence, it remains impossible for a small business to decide how to proceed on the health care coverage issue!
SMR 5:42AM January 09, 2013
print is so small on this that it is too hard too read.