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Originally Posted by Shotsie
What exactly is "Obama approved" insurance? Unless you employ more than 50 people full time you have the option of not providing any type of coverage at all without penalty. Is that some kind of moral decision you made, that you won't hire anyone unless you can provide them with insurance, so you hire Costa Ricans?
You should probably look into it. Your old healthcare plan would probably be grandfathered in under the new act. I know my health insurance hasn't changed at all.
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Our old plan, like all Blue Cross Blue Shield of Texas group plans, is not grandfathered because the special interests funding Obama's campaign aren't covered. (AKA not Obama approved). I did look for any Blue Cross plan that qualifies since we like the company but there are none. When you read the fine print, yours won't be grandfathered for long, either. ANY minor change to the plan causes it to lose it's grandfathered status and as you know plans have changes every year.
Since we do have fewer than fifty employees, for now we COULD stop offering any insurance as Blue Cross and other companies increase the scope and cost of their plans to keep up with the new requirements. We took a 45% premium increase this year. I would have loved to keep the old plan at the old rate, but Blue Cross has to change the plan to be compliant, covering "kids" to 26 years old, etc.
I strongly suspect the 50 employee exemption will go away soon, but it doesn't matter since insurers are starting to offer only Obama approved plans. So it's either pay twice as much for Obamasurance or have no insurance at all.