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Each of my employees receive about $7800 less per year in their paychecks because a Democrat made me buy them health insurance instead of giving them the money
by NoblePublius 6y ago
Each of my employees receive about $7800 less per year in their paychecks because a Democrat made me buy them health insurance instead of giving them the money to buy their own healthcare.
- dudul 6y agoAnd if they each had to buy their own health care they would pay much more than $7800/yr. Negotiating premiums with carriers is easier as part of a group of EEs than as an individual.
- mustafa_pasi 6y agoExactly, and they'd get shittier insurance.
- NoblePublius 6y agoNo, they wouldn’t, until they are about 50 years old .
- throwawayfire 6y agoDid you reduce your employee wages each by $7800, at that time, or have you declined to give pay increases of $7800?
- NoblePublius 6y agoYou obviously don’t employ anybody
- NoblePublius 6y agoI reduced the wages of everyone I hired after that stupid law was passed.
- matwood 6y agoWhich state are you in that forces employers to buy insurance? I'd like to know the details why you can't just give people the $7800. Also, this may be state specific, but another benefit for the employee of doing it this way, is their portion is from pre-tax money.
- dudul 6y agoPre-tax contributions is certainly a benefit, but the true benefit is that premium for employment based benefits are much lower than for individuals. One employer represents many employees, the employer deals with a broker, the broker represents many employers and the broker negotiates with carriers to lower premiums based on the fact that they represent a significant amount of potential members. This is the kind of weight that you don't have as an individual shopping for health insurance.
- matwood 6y agoAbsolutely. I was really just curious why the person I responded to was forced to buy insurance. I don't think that's the case nationally, but may be something state specific. > the employer deals with a broker, the broker represents many employers I need to look into this again, but it wasn't the case last I checked. Larger employers (those who can really move the negotiating needle) don't want to help smaller companies by being the anchor in a group situation because the larger employers see insurance as a competitive advantage. It's been a few years, but the last time I checked going through broker they were just negotiating for the individual company and not a group. I clearly need to revisit or maybe find a different/better broker.
- dudul 6y agoI spent 3 years in the health insurance/benefits industry building tools for employers/employees/brokers to organize their respective workflows around benefits. For sure, very big employers will have a different setup, but SMB definitely use brokers to get better deals for themselves and their employees.
- NoblePublius 6y agoObamacare requires me to pay for health insurance directly for my 279 employees otherwise I must pay a ~$4k/head penalty to the IRS. The entire point of my original comment was to refute the notion that counting benefits as income is a “very Republican” idea, because it was a Democrat would thought of it and made it a law.