Help me understand one facet of Obamacare:

[dirtsurfer]

I own a business that employs 62 people. Under Obamacare I am legally bound (because I have more than 50 employees) to offer a health plan that will average (my best guess $500 per employee per month) which equals $31,500 per month or $378K per year. My company competes with several competition that have 30-40 employees and do not have to supply a plan, how am I supposed to comply with the law and still compete with companies that are exempt?

How in the world are companies that are marginally profitable ever going to make it?

I predict layoffs and huge price increases, am I wrong?

 

[jerry]

Businesses with 100 or fewer workers can jump into a state SHOP Exchange pool starting in 2014; states may choose to limit the pools to firms with 50 or fewer employees through 2016.
The non-partisan Congressional Budget Office estimates that the SHOP Exchanges would lower annual premiums for these businesses by 1-4% with a 3% increase in the amount of coverage. That could mean a savings of more than $10 billion nationally.
or pay the 750 and put your people in the exchanges...the exchanges will be great for people that want to retire early (opening up jobs for younger people)...it's all good dirtman!

 

[Shelquilts]

My husband and I own a company that hires only union employees. We've successfully run our business for 23 years. The most employees ever was probably 15-20 but we are currently down to 5. We pay over $6 per hour to the union for health care alone and another $7 per hour for pension. We've always competed against non-union companies who don't even pay the same wage scale let alone the benefits. Do I jump for joy every time I write those checks to the union? No, of course not. But we've made a good living for ourselves and we've seen that our employees are taken care of too. But then most of the people on this forum would call me another bleeding heart liberal.

 

[Kea]

Thank you Shelquilts - it's refreshing to see an employer treat their employees well these days. It's been my personal observation that employees who are treated well tend to work harder and better. Kudos.

 

[The Man]

hi....

Move your business to Rocky Point!

They will love you down there!
Take your employees with you! Put some on work visas or what ever you need to do! Put them on mex health care!

Hire locals to! Work and play hard here!
Sometimes a small business needs to do everything to stay in business.

Times are going to get tough up north, as if is not now for some people.

The Man

 

[Tedram]

I own a business that employs 62 people. Under Obamacare I am legally bound (because I have more than 50 employees) to offer a health plan that will average (my best guess $500 per employee per month) which equals $31,500 per month or $378K per year. My company competes with several competition that have 30-40 employees and do not have to supply a plan, how am I supposed to comply with the law and still compete with companies that are exempt?

How in the world are companies that are marginally profitable ever going to make it?

I predict layoffs and huge price increases, am I wrong?

No, I don't think you are wrong.... If I were you----I would restructure to get below the 50 number. I would bet the 378k per year will grow to over 500k before this mandate takes effect. The 12 or 13 people can just get on the Welfare and Food Stamp roles---- the New Government will appreciate your contribution to making everyone dependant on them.......

 

[Terry C]

Health Insurance companies are required by law ( Affordable Care Act) to refund premiums it received if they did not spend at least 80% of premiums on health care. The 80/20 rule. You have to reimburse the employees this money depending on your plan coverage for what they pay for coverage. There are other ways too like use as in reducing preiumns for the upcoming year

 

[dirtsurfer]

Given 52 weeks in a year that is 27k per employee for health care and pension. How much does one of your average employes make on top of that? This sounds like a very high dollar operation that must generate huge profits to pay these kind of expenses, pay high wages and still have profit for reinvestment. I would never call anybody a bleeding heart who is spending their money how they CHOOSE to do it. I call bleeding heart liberals those who demand and take money from other peoples pockets through taxes to pay for the programs THEY think are important. Congrats for finding a way to make your business work for you.

I still don't see how companies with lower wage workers, say hamburger flippers can generate enough profit to pay for health plans.

My husband and I own a company that hires only union employees. We've successfully run our business for 23 years. The most employees ever was probably 15-20 but we are currently down to 5. We pay over $6 per hour to the union for health care alone and another $7 per hour for pension. We've always competed against non-union companies who don't even pay the same wage scale let alone the benefits. Do I jump for joy every time I write those checks to the union? No, of course not. But we've made a good living for ourselves and we've seen that our employees are taken care of too. But then most of the people on this forum would call me another bleeding heart liberal.

 

[Kenny]

I still don't see how companies with lower wage workers, say hamburger flippers can generate enough profit to pay for health plans.

Well maybe you better look again.
The average McDonalds franchise owner should net about 10% of sales for each restaurant owned according to Mr. Franchise. The average McDonalds restaurant open at least a year had sales of $2.3 million in 2008. The highest performing U.S. McDonalds in 2008 hit $9.5 million in sales while the lowest performing restaurant clocked in at $491,000

While an average McDonald's grosses $2.2 million a year, seasoned managers who motivate employees and keep customers coming back can add more than $200,000 to that total. "Restaurant managers are in the most important position in our company," says Richard Floersch, McDonald's chief human resources officer. Yet despite generous salaries—up to $62,000 plus bonus and company car, say insiders—turnover is a constant concern in an industry that typically sees 43% of its staff leave each year." So, a high performing manager who cares nets you an additional 200K in revenue (roughly 10% more revenue) per location, if you own a franchise or a block of franchises. That sounds good. The real question is what would you offer that manager above and beyond the 62K salary, bonus and car (total package 80K) to hang around and help you access the additional 200K?

 

[garyd]

What is the cost of getting a McDonalds franchise?

 

[Kenny]

What is the cost of getting a McDonalds franchise?

How hard was that?
[h=1]How Much Does a McDonald's Franchise Cost?[/h] "How Much Does a McDonald's Franchise Cost?" The McDonald's Corporation requires a minimum of $250,000 of non-borrowed personal resources to consider you for a franchise. In other words you need $250,000 cash on hand to just start the discussion process with McDonald's. If you do not have $250,000 available click here to contact a franchise consultant who can recommend other great franchises in your specific price range. If you have $250,000 available read on...

Most McDonald's franchisees enter the McDonald's System by purchasing an existing restaurant, either from McDonald’s or from a McDonald's Owner/Operator. A small number of new operators enter the System by purchasing a new restaurant. In most cases McDonald's provides the land and building to run the McDonald's franchise. The franchisee pays rent to McDonald's for use of the land and building. This is different from many other food franchises, which do not typically own all the land on which their restaurants are located.

McDonald's is looking for individuals with the ability to manage finances, motivate & train people, have the willingness to complete a comprehensive training program and their devote full time to operating the restaurant. If you feel you have these qualities McDonald's may be right for you.

 

[rocky]

Coming back to the topic once again, As there is an increase in costs of health care facilities in Obama Care as suggested be latest news. Which I think is really wired and hard to digest for lots of people who were having concerns with health care and insurance policies, because absolutely going out of reach.

 

[Kenny]

Coming back to the topic once again, As there is an increase in costs of health care facilities in Obama Care as suggested be latest news. Which I think is really wired and hard to digest for lots of people who were having concerns with health care and insurance policies, because absolutely going out of reach.

I work in facilities for a very large community College and have the same benefits as most other state employees and recieved this in my email today. I have no problems digesting it, do you?.

To: All Employees/All campuses
Re: Yavapai Combined Trust Group Health Insurance – News!

Hello Everyone, and welcome back from Spring Break!

We have some good news to share with you – the Yavapai Combined Trust Board has voted to apply no increase to the group health premiums for plan year 2013-2014! For those of you with dependent coverage, this means no increase in what is deducted from your pay. For the College, this represents a savings. This also represents the solid footing that YCT has, and that is unique in today’s healthcare environment.

 

[GV Jack]

That is indeed unique in today's healthcare environment. Good on ya Kenny.

 

[dirtsurfer]

I work in facilities for a very large community College and have the same benefits as most other state employees and recieved this in my email today. I have no problems digesting it, do you?.

To: All Employees/All campuses
Re: Yavapai Combined Trust Group Health Insurance – News!

Hello Everyone, and welcome back from Spring Break!

We have some good news to share with you – the Yavapai Combined Trust Board has voted to apply no increase to the group health premiums for plan year 2013-2014! For those of you with dependent coverage, this means no increase in what is deducted from your pay. For the College, this represents a savings. This also represents the solid footing that YCT has, and that is unique in today’s healthcare environment.

I think large groups will have better premiums and fare better. Individuals and small businesses have seen the largest increases. If you qualify for the subsidies healthcare is relatively inexpensive but those who do not qualify will see increased rates to pay for the subsidies. It all has to paid for one way or another, unless our government just keeps borrowing money to pay for things like it has.

 

[jerry]

Dirtsurfer......hopefully you have missread the tables.If you had a policy like my exsisting one :10000 dollar deductible,pages of exclusions and gotcha clauses...basically worthless except as protection of my property in case of a huge medical bill then you most likely saw it increase a 100 a month.If you have pre existing conditions Obamacare limits the amount the companies can charge you over the baseline.This is a very good thing as currently they can jack you up when you have a problem tooutrageous levels. What good is insurance that does nothing for you when you need it? a average Joe in Arizona will benefit from this program.....

 

[Southbeacher]

Hi. I represent those members who, recognizing the don't-get-political rule, have a whole bunch to say but will instead grab a couple Tums.

 

[dirtsurfer]

Dirtsurfer......hopefully you have missread the tables.If you had a policy like my exsisting one :10000 dollar deductible,pages of exclusions and gotcha clauses...basically worthless except as protection of my property in case of a huge medical bill then you most likely saw it increase a 100 a month.If you have pre existing conditions Obamacare limits the amount the companies can charge you over the baseline.This is a very good thing as currently they can jack you up when you have a problem tooutrageous levels. What good is insurance that does nothing for you when you need it? a average Joe in Arizona will benefit from this program.....

I guess I am not average. I had a $2500 deductible per person in my family plan and the 80/20 after that. I am shopping and will let you now what I find but the first three quotes are very ugly. It all is about means testing. To look at it any other way is illogical and unfounded. Higher income earners will be stuck with higher premiums to pay for those that don't pay the full cost, pure and simple. I cannot even come close to the great and cheap coverage provided to those that qualify for the subsidies.
Southbeacher: I am not being political, just stating facts. If obummercare reduced my rates and gave me better coverage I would be all over it.
Jerry: the average Joe you mention will surely benefit but will never pay the true cost of the insurance. It is a handout.

 

[jerry]

I guess I am not average. I had a $2500 deductible per person in my family plan and the 80/20 after that. I am shopping and will let you now what I find but the first three quotes are very ugly. It all is about means testing. To look at it any other way is illogical and unfounded. Higher income earners will be stuck with higher premiums to pay for those that don't pay the full cost, pure and simple. I cannot even come close to the great and cheap coverage provided to those that qualify for the subsidies.
Southbeacher: I am not being political, just stating facts. If obummercare reduced my rates and gave me better coverage I would be all over it.
Jerry: the average Joe you mention will surely benefit but will never pay the true cost of the insurance. It is a handout.

The Euros insure everyone..why can't we? I met a guy in Cascade Idaho this week that was arranging a benefit for his friend so he could afford Chemo therapy....The guy is a logger who was laid off and lost his insurance.What the hell is wrong with a country that makes the working man beg for pills like a monkey on a chain.....he has 3 children..

 

[jerry]

I guess I am not average. I had a $2500 deductible per person in my family plan and the 80/20 after that. I am shopping and will let you now what I find but the first three quotes are very ugly. It all is about means testing. To look at it any other way is illogical and unfounded. Higher income earners will be stuck with higher premiums to pay for those that don't pay the full cost, pure and simple. I cannot even come close to the great and cheap coverage provided to those that qualify for the subsidies.
Southbeacher: I am not being political, just stating facts. If obummercare reduced my rates and gave me better coverage I would be all over it.
Jerry: the average Joe you mention will surely benefit but will never pay the true cost of the insurance. It is a handout.

80 20 will bankrupt you if say you get nailed by Diamondback or need extended rehab.....junk insurance is just that...junk