Obamacare is the law, and no matter what happens in the election in November, it will be the law for quite a while. Regardless who is the President there is no way the Congress will get together to make any type of significant changes before the major provisions take effect in 2014. In addition, regulations will be flying out of the doors over the next few years.
This site will attempt to give you a non-political analysis of the major changes that are about to take place. Our first bit of advice is a very simple one. 2014 is right around the corner, and if you are a business, small or large, it is time to get prepared — NOW!
If you are going to enter into a collective bargaining agreement between now and then you better know how the new law affects your negotiations. If it is important for you to know your own costs, the costs of your competitors, or the financial health of your customers or suppliers then you better be finding out now what the new law is going to cost you or them.
The most important meeting you can be having right now is not with your stock broker, your golf pro, or your sales force. It is with your own human resources people and the Independent broker who knows and has been spending hundreds of hours preparing for what is about to happen. New products are going to be offered, the law will or will not require you to do certain things, and most importantly you will not be able to budget until you get answers. Call your Independent agent and schedule a meeting today. People like my friends Sandra and Tom at Marvin Address and Associates will help you through the most significant piece of legislation to be passed since Social Security.
Just to give you a preview of some of the issues facing health insurance providers is this tiny part of the legislation. As of 2014 each insurance carrier will so have to adhere to a 1:3 ratio age band (where the youngest members pay no less than 30% of the premium amount changed to its oldest members). All the modeling we’ve read about says all things being equal, this will raise young people’s premiums by a whole lot and reduce the baby boomer’s rates by a little bit, because of the unequal numbers. New Jersey installed a similar ratio and most people’s premiums increased 419%.
Make the call today.