Written by: Jan Edwards, President/Owner, Corporate Resource
The basic premise of the financial portion of Obamacare is to enroll young individuals in mass. In order to subsidize the plan, the enrollment level of younger participants will need to be extremely high. The amount of premium for the younger age bracket is two to three times more costly than the current average for a younger individual. The likely enrollment level for this age bracket is diminished due to the cost. This part of the plan weakens the foundation of the financial structure of Obamacare.
A by-product of this program is the requirement of coverage for all full-time employees. Once you’ve done the math, you will find that the fines for not participating in Obamacare may be more cost effective than accessing coverage for your employees. The simple solution is to cut your employees' work hours to a part-time level. The designers of Obamacare did not anticipate this employer survival tactic.
The governing bodies of this country have passed Obamacare, but the implementation is just beginning. The first notice employers are required to send out is October 1, 2013—that’s next week! Employers like you are in a state of confusion.
Who can I ask what is required of me as an employer?
Corporate Resource is responsible for the requirements of Obamacare on behalf of all the employers in our program. Our job is to offer the highest-quality solutions for every possible employee regulation and human resource issue. Corporate Resource is prepared to deal with all that Obamacare entails'as it exists today and as it evolves in the future.
Corporate Resource provides payroll, work comp, health insurance and 401K benefits.