Considerable rhetoric is spent on the Affordable Care Act or “Obamacare,” yet much of the real-world impact lies ahead of us.
I run a development-stage medical technology enterprise. With success and growth, we hope to be a large employer one day. Our people are generally experienced in the field, healthy in their lifestyles and blessed with growing families. Our company-provided medical insurance is a commercially available high-deductible plan. Our group is uniformly happy with the arrangement.
Implementation of the ACA for situations like ours was delayed by the federal administration until at least next year. It’s a good thing. We just learned that implementation at this time would drive up our medical insurance premiums by 57 percent, about $5,000 per covered employee. The premium increase would be driven by two main factors: The relative health of the group is good and most of us cover our family members.
Whatever the potential benefits of the ACA, in my company’s case, it is a looming, substantial burden on our working families and the business on which our livelihoods depend. As for the future then, we like our medical insurance plan. As earlier promised, we’d like to keep it.