This is part of a letter I just sent to my employees:
*In speaking with the owners of (company A) and (company B), both times the conversation turned to health insurance. With the “Obamacare” legislation being passed and coming into effect, we are not only going to be taxed on our current health insurance, but our insurance rates will be skyrocketing, yet again. (other business owner), myself, and the owners of (company A) and (company B) just looked at each other and said – and I quote – “we don’t know what we are going to do”. Note that this is not a political statement in any way, I am simply sharing with you the reality of the situation.
We have always considered “free” health insurance to our employees to be one of the massive benefits we like to provide, but if these increases go through as expected, the model will simply be untenable.
There may be decreased coverage, employee contributions, decreased profit sharing, and/or a combination of all three, or perhaps something else. We are not sure where this will take us, but we will do the best we can to come up with the best solution for everyone. Just be aware that there is a possibility of changes in the future. You will have ample notification and time if and when any changes are made.*
The train is coming down the tracks.