Healthcare Reform is a win for SouthWalton

[robertsondavies]

I know so many people in their late 50's or early 60's who'd like to retire (many to the beach) but have to keep working because of health insurance issues. I confess I haven't read even the Cliffs notes to this bill yet, and I'm not necessarily saying I support it overall, but it seems to me that South Walton is a winner economically if this passes for 2 main reasons.

First, the aforementioned 58 year old who would be able to semi-retire in any other country on the planet, except the U.S., now may have affordable coverage (or at least, no worry about being dropped etc), therefore hastening the retirement to places like South Walton

Second, most people of working age in South Walton are not employed by the kind of large corporations (GE, Bank of America, Boeing, Exxon) that provide juicy benefits etc... this Bill mainly will benefit small/medium sized businesses, and their employees - which South Walton is heavy on as opposed to the large corporate employers.

 

[30ashopper]

I know so many people in their late 50's or early 60's who'd like to retire (many to the beach) but have to keep working because of health insurance issues. I confess I haven't read even the Cliffs notes to this bill yet, and I'm not necessarily saying I support it overall, but it seems to me that South Walton is a winner economically if this passes for 2 main reasons.

First, the aforementioned 58 year old who would be able to semi-retire in any other country on the planet, except the U.S., now may have affordable coverage (or at least, no worry about being dropped etc), therefore hastening the retirement to places like South Walton

Second, most people of working age in South Walton are not employed by the kind of large corporations (GE, Bank of America, Boeing, Exxon) that provide juicy benefits etc... this Bill mainly will benefit small/medium sized businesses, and their employees - which South Walton is heavy on as opposed to the large corporate employers.

Depends. If these businesses don't have profit margins large enough to pay for the health insurance they will be forced to provide starting in 2014, it may well put them out of business. The bill tries to limit the costs through the exchanges, but it's yet to be determinded how effrective that will be. Time will tell. I hope if small businesses get slammed and start failing, congress will change the law.

 

[robertsondavies]

Depends. If these businesses don't have profit margins large enough to pay for the health insurance they will be forced to provide starting in 2014, it may well put them out of business. The bill tries to limit the costs through the exchanges, but it's yet to be determinded how effrective that will be. Time will tell. I hope if small businesses get slammed and start failing, congress will change the law.

This seems to be one of those cases where the slippery slope arguments seem to ring true... i.e. that basically companies are going to drop benefits, and everyone is going to be forced to pick up a public option of some sort, so basically it will all be socialized soon. I think we've reached the diminishing return limits of scientific progress on healthcare for the purpose of extending life meaningfully - so I think the whole thing ought to be socialized now.

 

[Alicia Leonard]

If they have under 50, they are excluded. Their employees will have insurance and they will not have to pay for it.

 

[Kayak Fish]

Depends. If these businesses don't have profit margins large enough to pay for the health insurance they will be forced to provide starting in 2014, it may well put them out of business. The bill tries to limit the costs through the exchanges, but it's yet to be determinded how effrective that will be. Time will tell. I hope if small businesses get slammed and start failing, congress will change the law.

My understanding is that these businesses can pay a fine instead of providing coverage. That fine starts out at 750 per year and then increases to 2k per year per employee for businesses with greater than 50 employees, which is a lot less than they would pay towards most employees' coverage.

Then I assume the employees, much like they do now, will go shop for insurance (on the exchange), except in the new system they will be subsidized and will have a market with greater risk sharing pools from which to purchase.

 

[Matt J]

My prediction is that the GOP will dust off the bible of Rove in October, we'll see a huge take over by them in Congress, and they will purposely eff the whole thing up just to make a political point.

 

[30ashopper]

My understanding is that these businesses can pay a fine instead of providing coverage. That fine starts out at 750 per year and then increases to 2k per year per employee for businesses with greater than 50 employees, which is a lot less than they would pay towards most employees' coverage.

Then I assume the employees, much like they do now, will go shop for insurance (on the exchange), except in the new system they will be subsidized and will have a market with greater risk sharing pools from which to purchase.

There has to be some sort of limit or restriction on that, otherwise firms would have no reason to provide coverage and would just pay the 2K healthcare tax and be done with it. Or maybe that's what the authors wanted, in an effort to funnel more people through the exchange as individuals? Seems rather odd that the punishment is only 2k per employee.

 

[30ashopper]

Hmm, can't seem to find anything other than the 2K tax for 50 or more employees. That's really interesting, I guess employer coverage for smaller firms will basically come to an end. I wonder why they designed the bill that way?

 

[Matt J]

Hmm, can't seem to find anything other than the 2K tax for 50 or more employees. That's really interesting, I guess employer coverage for smaller firms will basically come to an end. I wonder why they designed the bill that way?

To support small business and take a major burden off the backs of small business owners?

 

[30ashopper]

It's even less than that, the first 30 employees are excluded, and businesses only have to pay fines if one of their employees qualifies for government subsidies based on income. Wacky stuff!