A question about public insurance exchanges and tiny non-profits. Anyone
August 7, 2013 7:44 AM Subscribe
Can you help a small non-profit figure out our rights and opportunities with the public exchanges on October 1?
posted by TomMelee to human relations (5 answers total) 3 users marked this as a favorite
Hey everyone! I'm someone with a pretty good grasp on the PAaCA legislation, but the public exchanges get complicated a little bit for small businesses.
Long story short, we're a disability-focused non profit in WV with 8 total employees who have always had private insurance (that has sucked.) (One employee uses her husbands insurance.) This year, BCBS is smacking us with a 21% premium hike over last year, which is nuts because we basically had no utilization last year. That 21% hike constitutes an extra $15,000/year cost for the agency, which just can't happen. I'm aware that our size makes us exempt from the ACA, but we need, and want (and our boss and board want us to have) insurance. That's on top of our 20% employee contribution increase. (That's right, we're talking $72,000/year for 7 employees with a $2,500 deductible, plus the extra $3k a year we pay for any dependents.)
Our broker is telling us that if we drop commercial insurance, take that cash and apply it to individual purchases in the exchange, that we'll either find ourselves ineligible or financially penalized for dropping the private insurance. I trust him about as far as I can throw him, though.
So, the TL;DR version:
Can we drop our commercial insurances and hit the private exchange? Can our employer pay for it for us? Do they have to pay us extra each month? Any reason to believe it may be cheaper?