Ed Lee: ACA stifling small business

As we move into the third year of ACA, it is evident all is not fair and the program is not working.

Yes, more North Carolinians are covered, and this is a good thing. However, the actuaries who calculate the premiums are running amok. Does the state legislature care about us taxpayers when it comes to insurers who push rate hikes without cause?

In 2014, my monthly premium was $874.22, in 2015 it is $1,043.64 and my 2016 premium will be $1,259.81. I have the Blue Advantage plan, and this covers my wife, two college-aged sons and me. All are healthy.

Next year I will pay $15,117.72 for health insurance for my family. This is net income dollars, not gross income. Based on my tax rate, I need to make approximately $21,596 in gross income to cover this bill. Seems like a lot of money to cover my own health care.

Maybe as a business owner, I should close down my business and release my eight employees and solicit a job that pays me less so I can lower my health care costs. Is this fair to my employees who rely on their jobs to support their families?

This flawed ACA system is preventing small businesses from growing.

This story was originally published December 1, 2015 at 3:57 PM with the headline "Ed Lee: ACA stifling small business."