Health Care Reform: Myths, Realities and 2013

Back in early December, Marie Valdez Harbrich posted in an interesting blog about some of the myths and realities of Obama care, which have been done earlier in this blog, but here are some highlights:

1. You’re not affected by Obamacare (other than having to pay the nickel and dime taxes that support it, including a 0.9% assessment if your income is over 200k.) if you have less than 50 employees. If you’re over, you may be able to split work and make independent contractors out of some employees to get below the limit, but be careful. You as an employer already pay .9% for Medicare support.

2. Obamacare changes are rolling through the insurance companies, so your premiums might go up more than 10% this year.

3. The Wall Street Journal also pointed out in its 12/2612 edition that employer caps on medical savings accounts of $2500 start in January, 2013. Thus, you should think about getting catastrophic even coverage and let your employees use their MSAs as they see fit. They will have saved money, since their provider doesn’t have to deal with insurance companies for the most part.

4. There are 24 states that have opted out of insurance exchanges, either preferring to not have one, or have the Feds do it. The problem with the Feds doing it is that they have not appropriated money to cover these, so HHS is going to have to drop the idea or cover the exchanges from existing funds they will get to cover Obamacare starting this year. This exchange idea would be of interest to the smallest employers, who may not offer insurance now.

Stay tuned to this space, because it’s being shown every month that there’s something new in Obamacare to dislike.

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