Obamacare is a train-wreck already as small businesses see huge cost spikes ahead. Here are three examples, as reported by The Wall Street Journal:
Mr. Laine, 52, a University of California Los Angeles graduate with three children, says he spoke to his insurance broker in December and was told that when he renews his company’s health plan for 2014, his premiums could go up by anywhere from 15% to 60%—regardless of whether more employees choose to be covered by his firm.
“The message is, ‘We really don’t know; we have no way to predict for you what it will cost in any reasonable way,’ ” he says.
On the other hand, his firm could drop insurance, and face $94,000 in penalties. But the decision is a lot more complicated than which option is cheaper. Insurance benefits are tax-free, and a lot of firms don’t want to risk losing workers to competitors—or getting bad publicity for ditching coverage.
E.J. Smith - Your Survival Guy
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