new insurance laws for 2014

Discussion in 'Business Operations' started by georgialawn88, May 29, 2013.

  1. georgialawn88

    georgialawn88 LawnSite Bronze Member
    Posts: 1,075

    I think there was a sticky about this a while back but i cant find it. Who has done research on new insuance laws and what have you found?

    I havent done much research but i am finding very conflicting reports on the internet. It seems the more you make the more you pay. Is that right? like if you make under 40k family coverage is as low as 300/mo. but if you make 6 figures its a lot more. I dont know if this is true orf not just asking. I wonder if our president knows what thatll do? everyones gonna be hiding money so save theirself money on insuance instead of just hiding money for taxes. It seems nobody knows whats going on and we are aproaching 2014 very fast. anyone got any info? thanks!
  2. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,353

    The fines are not what was advertized they just picked a few examples and ran with it through out the debate but I did snap a shot of the fines chart when I saw it last. This is the cost in 2016 when the fines are at their current highest.

    Less than 9500 income = 0
    9500-37000 income $695 this is fixed after this level its a % of your income
    50000 income = $1000
    75000 income = $ 1600
    100000 income = $2250
    125000 income = $2900
    150000 income = $3500
    175000 income = $4100
    200000 income = $4700
    at that level the fines end since its in the bill they can be no more than the average bronze health plan and that is what they figured it will cost in 2016.

    Obviously you can avoid the fines buy buying insurance but that cost more then the fines and they know that its designed this way to break the system to push us to single payer.

    Now the 9500 threshold is the nasty one you get fined the same for that as you would if you showed 37000. Now this is after deductions so if you have enough new equipment you could fly under this law. I think I can personally make as much as 45-50k and still be exempt I have that much in write offs.

    It sounds more like your looking in to the exchanges and good luck with that no states are having much luck setting them up. Expect to see them trying to repeal parts of it all next year and the year after the law is a train wreck. But it ought to be fun to watch.
  3. 205mx

    205mx LawnSite Silver Member
    Posts: 2,355

    Geez, this really is bad isn't it ?
    Posted via Mobile Device
  4. georgialawn88

    georgialawn88 LawnSite Bronze Member
    Posts: 1,075

    seems great if your a low life. if you try an succeed and you make a lot of money you. are. screwed. anyone else have any info?
  5. lawnsaspire

    lawnsaspire LawnSite Bronze Member
    Posts: 1,595

    you don't pay a penalty if you already are insured.
    Posted via Mobile Device
  6. georgialawn88

    georgialawn88 LawnSite Bronze Member
    Posts: 1,075

    i keep reading and it seems to me health insurance will be a lo cheaper then it is now. i dont know if his is false info. i know theres a lot of negativity in america about this but i dont see it being bad unless you have over 50 employees and do not offer insurance to them which is a small %. seems that guy that wants to go full time and cant do to insurance will not have that chance. Maybe im reading into it wrong. i dont know.... someone correct me if im wrong
  7. 32vld

    32vld LawnSite Gold Member
    Posts: 3,984

    The coverage can cost less. When it does it will because what is covered has been reduced or eliminated.

    Just as with car insurance. So many companies are offering low prices. They do that buy not having to use OEM parts, or even new after market parts, instead used parts have to be used first when available.

    The media and politicians do not use the term death panels but they are in place to deny coverage based of age and health.

    The media and politicians have coverage that has them avoiding the death panels. Their silence has been bought.
  8. twomancrew

    twomancrew LawnSite Senior Member
    Posts: 940

    Tried that once, but I guess I learned my lesson.
  9. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,353

    No it will not be cheaper it's not mathematically possible for it to be cheaper. The new law mandates a whole bunch of procedures be covered and included in ever plan. Now when you do this the price tag has to go up to cover the new cost of all the extras. Then it raises the caps on how much the insurance companies have to pay out before they are released from any more payouts. My little sister works for a unionized grocery store and the union is freaking out in their correspondence to their members. Seems the new 1 mill cap is going to cause a slight increase in their rates. Who would have ever guessed raising the cap from 25k to 1 mill per employee would cause an issue? :laugh: Then they lowered the deductible maximum so getting a catastrophe policy is now illegal and all must cover everything and have low deductibles but this jacks the rates up as well.

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