Insurance Rates have gone up as much as 45% sine the passage of Obamacare. The only way New Jersey small business would save would be to drop all insurance and have all employees forced to pay the Obamacare penalty tax. The force the employees into the government's single payer plan...which was the ultimate goal of the Democrats and Obamacare in the not to distant future. This is the single payer plan the "progressive" socialists tried to implement.
The real way to reduce health care costs within the state, and all states, is to open the market to national competition with less restricted form of requirements forced upon the people of New Jersey. There only four companies offering health insurance and they only offer the most comprehensive coverage. This has been a long standing sweetheart requirement for health insurance in the state. It is extremely expensive and unreasonable. It became even more expensive after the expansive requirements stated in the act and anticipated under Obamacare.
We once were able to "self insure" where we paid for regular medical care ourselves, without interference of insurers, primary care approvals and petty bureaucrats. Then our catastrophic care was covered by our medical insurers. That worked well, did not break us and gave us good medical care. It was taken away by statute in the state and were were forced to purchase full coverage as a small business at over three, then four time the premium. The state-insurance commission made reasonable health insurance impossible to the disadvantage of the individual and small business. The insurers within the state became an oligarchy with high fixed premiums and automatic annual rate increases.
This is bogus "news."
Daily NewsMonday, January 10, 2011
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