I have been following up on Obamacare legislation – it’s safe to say that we’re going to be awestruck when everything rolls around. Many people, especially business owners are already giving pushback about the after effects of this Obamacare healthcare bill – and rightfull so. Between the added costs, penalties, tax implications and higher premiums, you may take a big hit next year. There are ways to navigate the system.
The Obamacare changes will effect everyone a little bit differently. If you couldn’t get insurance before due to an illness or pre-exisitng condition, you can finally get coverage beginning January 2014. However if you are average or even above average health wise, then keep reading. For anyone of you who are not currently insured, then you will have to get coverage plain and simple. Even if you are already insured, your premiums may raise! Prices will vary state to state however Blue Cross Blue Shield of Maryland has stated their premiums could go up 25%. If you are a employer with full-time employees, you will be required to cover those said full-time employees. Many business will take a huge hit because of this.
I read an article where one particular business owner of restaurants, who of course has waiters & waitresses working for him, does not offer coverage to any of them currently. So now what he plans to do come January is hire twice as many people but make them all part-time employees. Talk about a work around to the system.. None the less this will save him hundreds of thousands of dollars a year he would have otherwise been forced to pay out in premiums.
The typical factors that will determine your price of coverage will be age, income, gender, the level of coverage and of course the state you reside. If you have any questions, do not hesitate to consult with me. Health insurance in general can be tricky for people to understand and now with the Obamacare thrown into the loop, it makes it even tougher. I urge all of you to get in contact with me to make sure you are adequately covered and properly prepared with your insurance situation. Call me today for a Free Consultation!