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Old October 31st, 2013, 12:42 PM   #21
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Originally Posted by montecarlo33 View Post
Correct me if im wrong on this, but I believe the only way to do that is for your employer to cut a separate check or deposit it into a HSA account? From there anything spent on medical expenses is tax free.
Our company does not have a HSA.
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Old October 31st, 2013, 12:51 PM   #22
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Originally Posted by TJJEEP View Post
What if we are not in / don't want a high-deductible plan?
The government is involved, what does what you want have to do with it?

I was talking with a Dr a few years ago, and he was positive the HSA setup was where everybody was going to go. I had never even heard of it at the time, but within 5 or so years it was the only option at my employer...
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Old October 31st, 2013, 01:06 PM   #23
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If you were an employer and your options were to annually give a fixed amount of money to your employees, set to your current insurance expenses -or- continue to pay an insurance company increasing annual premiums; what would you do. I bet there are no company-subsidized health insurance plans in the near future. Obama sucks.
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Old October 31st, 2013, 01:25 PM   #24
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Originally Posted by amc78cj7 View Post
If you were an employer and your options were to annually give a fixed amount of money to your employees, set to your current insurance expenses -or- continue to pay an insurance company increasing annual premiums; what would you do. I bet there are no company-subsidized health insurance plans in the near future. Obama sucks.
I wouldn't doubt that, but the trend away from company-subsidized health care started long before Obamacare. The only difference now is you have someone to blame.
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Old October 31st, 2013, 01:35 PM   #25
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Quote:
Originally Posted by TJJEEP View Post
I have heard a lot of companies are doing this. Is there anyway to get around the taxed v pre-tax dollars?

The big drawback is the money companies are giving people is taxed where insurance through your company is using pre-tax dollars.

So if you are currently receiving insurance through your company and it costs you $600 per month, if a company switches to paying you instead of providing insurance, that $600 insurance will cost you an extra $150 a month to buy. (Assuming the premium price is the same as it was, and a 25% tax bracket)

Is there any way to set it up to buy insurance with pre-tax dollars?

Ignore what kickstand said (I know he's "in the industry" of finding people jobs, but has no idea how it works from the other end of the stick.

Employers dropping health insurance will become the norm, in order to compete in the marketplace for work, we can't have that burden, and with healthcare going up 30%, that will hurt the bottom line so much, it would make us raise our hourly rate, which will make us lose contracts, which will put people on unemployment.

You will see many many many small businesses fully dropping insurance in the next 6 months. Working on the tax free option, which there are many. I'll report back when I know what the whole status is.

I can tell you the single people who work here will actually profit from the pay we give them vs them finding the cheapest insurance, while the familys of 4 or 5 will have to pay some out of pocket.
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Old October 31st, 2013, 01:44 PM   #26
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Ignore what kickstand said (I know he's "in the industry" of finding people jobs, but has no idea how it works from the other end of the stick.
LOL, you realize that our company is the "employer" and I know exactly how much it costs us to provide people medical benefits right

Our costs have gone up, "so far" we have eaten the cost. I expect the cost to go up for our employees.

Our company pays for approximately 75% of our employees health insurance costs. THey pay the other 25% or so.

THat is changing as I said with our plans going up in cost and us currently keeping the employee contributions the same.
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Old October 31st, 2013, 01:49 PM   #27
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Originally Posted by amc78cj7 View Post
Please define your numbers. The question you posed is "how much did it INCREASE" not "how much did it CHANGE". Therefore, I assume your "enhanced healthy living" plan is 1.56x your current? Or is it a change such that it is 0.56x your current?
lol, i assume everyone will have an INCREASE, or no change.

so it is 2013 premium x 1.56%. I have always qualified for healthy living, so that is not a factor.
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Old October 31st, 2013, 02:06 PM   #28
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Originally Posted by kickstand View Post
Our company pays for approximately 75% of our employees health insurance costs. THey pay the other 25% or so. .

So your company makes their employees pay 25% now, (which will go up) and you're ripping on me because some employees will profit, and some families will have to pay 30% because we are letting them buy their own health care?




You make no sense, well, except for your incredible weather information. You sit there with a huge boner ripping on everybody as fast as you can, but you usually do not come out looking right.
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Old October 31st, 2013, 02:11 PM   #29
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obama
yup, it's all his fault.
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Old October 31st, 2013, 02:15 PM   #30
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UofM already jacked up our out of pocket costs a couple years ago when ACA was passed. I went from paying about $150 to $250 and increased co-pays, and a prescription plan that is tiered in a way that you can't get a script if it's not a generic.

UofM is now planning for the future, realizing that there are going to be even more increases then they initially anticipated, so the latest announcement is they are going to be slashing our retirement/savings/pension plans to offset these increased costs.
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Old October 31st, 2013, 02:27 PM   #31
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UofM already jacked up our out of pocket costs a couple years ago when ACA was passed. I went from paying about $150 to $250 and increased co-pays, and a prescription plan that is tiered in a way that you can't get a script if it's not a generic.

UofM is now planning for the future, realizing that there are going to be even more increases then they initially anticipated, so the latest announcement is they are going to be slashing our retirement/savings/pension plans to offset these increased costs.
Yep. I haven't gotten retirement/savings/pension since I worked for Pfizer. And my health insurance costs are ridiculous (why do you think I never have $$ to wheel). Welcome to the new world order.
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Old October 31st, 2013, 02:30 PM   #32
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For straight BC/BS, it upped about $10 every two weeks, so I pay about $300 a month for a family of five. No other changes from last year. I pay 20%.
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Old October 31st, 2013, 02:55 PM   #33
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Originally Posted by clarkstoncracker View Post
So your company makes their employees pay 25% now, (which will go up) and you're ripping on me because some employees will profit, and some families will have to pay 30% because we are letting them buy their own health care?




You make no sense, well, except for your incredible weather information. You sit there with a huge boner ripping on everybody as fast as you can, but you usually do not come out looking right.
Good call....I think....considering I don't give weather information. I rely on you for that kind of innacurate reporting.

I don't know when the last time is that I spoke to a person who's employer paid 100% of their medical benefits.

You're telling me you went from paying 100% of your employees medical benefits to giving them that money instead and not offering benefits to them and expecting them to self insure?
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Old October 31st, 2013, 03:07 PM   #34
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is anyone here currently uninsured? Do you know how that is supposed to work? Just pay a yearly fine or something?

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Old October 31st, 2013, 03:49 PM   #35
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Originally Posted by kickstand View Post
I don't know when the last time is that I spoke to a person who's employer paid 100% of their medical benefits.
My employer pays 100% of my medical benefits.
Health dental and vision.
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Old October 31st, 2013, 03:52 PM   #36
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is anyone here currently uninsured? Do you know how that is supposed to work? Just pay a yearly fine or something?

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I'm thinking it's going to be rolled into your taxes at the end of the year.
So some people who usually get a refund will no longer, or will have to pay.
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Old October 31st, 2013, 04:01 PM   #37
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My employer pays 100% of my medical benefits.
Health dental and vision.
It's very rare I speak with a candidate who is in that situation.
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Old October 31st, 2013, 04:02 PM   #38
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I'm thinking it's going to be rolled into your taxes at the end of the year.
So some people who usually get a refund will no longer, or will have to pay.
That will be convenient of them.
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Old October 31st, 2013, 04:06 PM   #39
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Looks like our coverage is up $5 from $220 to $225/month for family.
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Old October 31st, 2013, 04:13 PM   #40
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Ins on the family went UP $80 per week, for an increase of 64%.
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