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Originally Posted by epitome
Alright, then if you currently pay 70% just stop coverage, put that money in everyone's check and have them go the the exchanges where they will have more choices. Those that don't opt for insurance now because it is too expensive can take that 70% contribution to pay the penalty. It wouldn't cost you anymore than if they came in during open enrollment and said they would like to participate in your group plan.
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If everyone we employ opted in we would have no option but to reduce dramatically the amount we contribute. Along with that we would probably have to lose dental,death and 401k. Even with all that our accountants say we would have a tough time affording it.
As far as giving everyone the money, first off. It would be fully taxable for the employee. THen the big issue. How do you justify to single people that have worked for us over 5 years giving more to new starts if they have a family? We have looked at self insured over the years a few times and there never has been any real solution for how to be fair to all the employees.