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Thumb of Michigan | As a business owner let me tell you a little story and I'm not on the health insurance, strictly for employees and owners who work in business (3 of 5 owners work for business, 2 take the health insurance).
We had health insurance co-paid by employees & employee/owners, before Covid. Then the government announced the subsidies for Obama care. I took a close look at what was offered, as business owners we could've drop employee insurance, gave the employee a 'raise' equivalent of what we were contributing. Employees could've bought same or equivalent coverage for less than our contribution (saving their own co-pay).
I recommended to the other owners not to do this, BECAUSE what's happening today, subsidies had a sunset on them. You could be making up to close to $100K and get a subsidy! I could see the headache of trying to get new coverage (things like pre-existing condition) for the employees, having them make a co-pay that didn't have to make for the last few years, plus the cost of the company's contribution (be hard to claw back the company's share of co-pay).
Anytime government offers 'free money' with strings or sunset provision watch is my thought. | |
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Health insurance
