Word on the Street by Kevin Carty
Healthcare Reform
For those who read my weekly post, you know I use it to think out loud on occasion. This week, I want to talk about a touchy topic. Not from any political bent, but because it’s on the news, the radio, and discussed around the water cooler.
The issue of Healthcare Reform affects us all personally and professionally. At Classic, we have attempted to stay on top of it in anticipation of the changes to our employees. Mel White, Beth Senter, and I have had quarterly review meetings with our insurance broker since Q4 2012. And each meeting/review comes with a new list of information, changes, and uncertainties.
Without getting into the details, it has been disheartening mainly because we have not been able to pin down the changes and the cost. At Classic, we pay for the lion share of our employees’ health coverage. Something the three of us have been passionate about and proud of our ability to do so.
But the looming question we face is — Will we be able to maintain the same level of company-paid coverage? If so, what will be the cost? And if the cost rises appreciably how will we pay for it and remain competitive? Right now, we don’t know. Fortunately, our renewal isn’t for another five months so we have a little time. And much is changing.
I believe that we all deserve access to affordable healthcare. But I wonder what is the definition of “affordable” and who is writing the definition. After our Q2 2013 meeting with our insurance broker, I left feeling like my definition of affordable was in sync with what the TV and radio pundits were chattering about. But after our Q3 2013 meeting, I was left scratching my head as to what some folks thought was “affordable” because the very preliminary cost projections had increased.
Now granted, we have seen a myriad of proposed changes recently. And even before the ACA, we went through these potential scary healthcare price increases each year, but it always turned out fine.
If this blog seems disjointed, it’s because the whole concept of what we are about to embark on as country seems disjointed. I don’t remember a time in my life, personally and or professionally, where I have felt more like, “I just don’t know.” And that is inherently sad and frustrating to me because I have faced big medical issues in the past and even larger medical bills.
How are you dealing with this topic at your company? What will be the coverage? What will it cost? What are your options? If you are facing this now, what decisions are you making?
I would love to hear from you. I welcome your calls, your comments, and your emails. Your insights are very important to me. Thanks.
–Kevin
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