Monday, August 02, 2010

The Cost of Obama Care or Just More Taxes

A few weeks ago our accounting department told us that we had received word from our current insurer that our rates were going to to up 40% to 60%, that this was a result of Obama Care and that this cost increase would hit every insurer across the nation.

Just now I received the following e-mail from our accounting department:
Attached: Health Insurance Premium Costs for 2009 and 2010.

Also attached: Current Summary of Insurance Coverage.

[EMPLOYER] has been notified that our health insurance premiums will be increased by 53.8% effective September 1, 2010.

We sent all employees health statements for Premera and ODS on July 22nd. It is imperative that completed statements

be emailed to [insurance broker's e-mail addy] so that we are able to “shop” for a reduced premium.

Employees eligible but insured under our plan must complete forms and submit them to the [Agency Name].

September 1, 2010 is open enrollment for eligible employees not previously enrolled.


That's almost a 54% increase in cost next month for something that won't exist for years.

I work at a small enough company where we know what's going on. I suspect those working for larger employers may not yet be aware this is coming, but it's coming.