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The Hampton Roads Metropolitan area probably has the highest percentage of ex-military employees in the nation. Ex-military employees typically do not elect to enroll in employer-sponsored health plans. This lowers […]
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Employee orientation is an important piece of HR and employee management. A formal orientation is essential to setting a new hire up for success and helping your company maintain the […]
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Four Lesser-Known Facts about ObamaCare
by Gregg Kennerly | Published Tuesday, October 10, 2017
- The ACA does not reward healthy lifestyles. For employers with fewer than 50 employees, the community rates mandated by the ACA are the same for everyone, regardless of health or lifestyle. If you exercise, eat healthy, and watch your weight, you pay the same premium as a five foot six 400 pound employee who eats Cheetos all day.
- There is a fine for employees who do not have qualified coverage. In 2015, 4 million people elected to go without coverage and pay the fine. Data shows that employees who do not take coverage are younger and healthier than average, thus wrecking the actuarial assumptions that underpin the financial projections of ObamaCare, and increasing costs for those who pay for coverage.
- It’s been proven that people will elect to come on a Federal Exchange individual plan during open enrollment, have a needed surgery or treatment, and then terminate coverage. Once this person needs more care, studies show they will then enroll at open enrollment again. This cycle is NOT insurance, and has caused large losses at insurance companies participating in the federal exchanges.
- In 2020, insurance companies will be assessed a 40 percent excise tax on “Cadillac” health plans. These are plans with annual premiums exceeding $10,200 for individuals or $27,500 for families. Many of these plans are for people in high-risk pools, such as older workers or those with dangerous jobs. Most of the tax will be passed onto the companies and employees, raising premiums and deductibles.