I am sure most of you recognized that I never wrote one word about the GOP health plan concept. There were several reasons.
The health care cost spiral is slowing- finally. Prior to 2008, the increase averaged at least 8% a year- for two decades! Over the past 5 years (up to 2014), total healthcare costs have growing by less than 3% annually. That trend is up for grabs through, as the last year’s(2015) increase seems to 5.5%- but the current year’s increase will be a little less at 4.8%. Except, these numbers still don’t tell the whole story….
Well, I didn’t think this explanation of health care coops would go on this long. But, it turns out there’s a lot to setting up new insurance companies. (Yes, I should recall how much it took to set up our liability insurance coop, as I described here.)
So, yesterday, I talked about how corporations are using PPACA (Obamacare) as a wedge with which they can obtain information to which they really are not entitled. And, as a means to lower their health care costs, via an avenue that is impermissible. One that the regulators have begun to address.
I have a few posts in the queue about the Affordable Care Act and how it’s been faring. In particular, how the actions of those that detest the act have made things more intolerable. But, today, I will be discussing how companies have been subverting the act for their own purposes.
For years, I’ve been working with my clients to provide special benefits; the kind that make starting and running an entrepreneurial business worthwhile. One section where I’ve been helping them is healthcare; to provide medical and dental reimbursement plans and flexible savings account plans (FSA).