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How will Obamacare effect our insurance?
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<blockquote data-quote="brett636" data-source="post: 1037379" data-attributes="member: 249"><p>Its hard to say what will occur for the next contract regarding our insurance. My guess is the company is already experiencing huge increases in premiums due to the new requirements for insurance like allowing a child to remain on your policy till age 26, no lifetime limits on coverage, and the long list of required "free" preventative care measures. All these changes increase the overall expenses the insurance company will incurr requiring them to raise rates as a result. This contract we may see the company push for us to be required to pay a part of our monthly premiums, or they could push for lower overall coverage whereever the law allows, or they could just drop insurance altogether for part-timers. I don't see our insurance staying the way it is, even if the change is minor, for the upcoming contract. Although time will tell as the details have yet to be hammered out. If the changes are minor this time around expect them to be drastic on the next contract when the "cadiilac health plan tax" kicks in. UPS will be required to pay a tax for a healthcare plan exceeding a certain limit and our insurance plans will most likely be in that category. As a result UPS will have no choice, but to ask for serious concessions on insurance to avoid this or somehow move the extra cost onto us. Thinking our insurance will remain the way it is for the foreseeable future is a naive belief as long as Obamacare is still law.</p></blockquote><p></p>
[QUOTE="brett636, post: 1037379, member: 249"] Its hard to say what will occur for the next contract regarding our insurance. My guess is the company is already experiencing huge increases in premiums due to the new requirements for insurance like allowing a child to remain on your policy till age 26, no lifetime limits on coverage, and the long list of required "free" preventative care measures. All these changes increase the overall expenses the insurance company will incurr requiring them to raise rates as a result. This contract we may see the company push for us to be required to pay a part of our monthly premiums, or they could push for lower overall coverage whereever the law allows, or they could just drop insurance altogether for part-timers. I don't see our insurance staying the way it is, even if the change is minor, for the upcoming contract. Although time will tell as the details have yet to be hammered out. If the changes are minor this time around expect them to be drastic on the next contract when the "cadiilac health plan tax" kicks in. UPS will be required to pay a tax for a healthcare plan exceeding a certain limit and our insurance plans will most likely be in that category. As a result UPS will have no choice, but to ask for serious concessions on insurance to avoid this or somehow move the extra cost onto us. Thinking our insurance will remain the way it is for the foreseeable future is a naive belief as long as Obamacare is still law. [/QUOTE]
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