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I met a business owner North of Seattle this week that has 35 employees in his construction company.  After a brief discussion about health insurance and health reform, I found that he had some misunderstandings about the Affordable Care Act provisions.  He understood from various sources that he is required to provide and pay for health insurance for all of his staff and their dependents.  This of course is not correct as the employer mandate applies to employers with 50 or more 30 hour per week employees or part-time equivalent.  I also learned that he is paying $2,200 for his family medical plan through a builder association.  That would indicate an individual monthly premium of over $700!  Association plans are usually age rates, so if you are older, you will pay more for the same coverage than a younger person.  This may be an indication that his broker is not providing the service and plan options that he needs to see.  Since his participation is not expected to be required on his group plan, he can opt out and get an individual plan at approximately 25% to 33% of the cost of the group plan.  His premium would continue to be tax deductible since he is technically self-employed.  Please let me know what you think about this story.  I suggested that he consider a stand-alone health insurance program for his company and an individual health plan for his family.
Posted 11:37 AM  View Comments

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