Like it or hate it the Affordable Care Act is here to stay.
There are two choices when it comes to the new version of health care in America. You can spend your time complaining and not learn about the benefits of the law, or you can learn how to law works and what provisions have been put in place to protect business owners. Whatever path you choose, there is still change that needs to be made. So are you going to embrace the new way or get pushed out of the business you love because of new health care laws?
Truths and lies about the law.
The big selling point of the law was if you like your health plan you can keep it, and if you like you doctor you can stay with him or her. However, we quickly learned this wasn’t necessarily the case. The only way to keep your plan was if it was bought prior to 2010 and if it was grandfathered in. Than when you bought a new plan you found out your doctor doesn’t accept Obamacare. This was a huge hit to your family. Your spouse has been going to the same OBGYN since your kids were born, and your kids have the only pediatrician you trust in town.
The truth is health insurance carriers like Anthem Blue Cross and Blue Shield of CA have more sick people buying health insurance. This in turn has a negative effect on premiums because they cannot control who buys their products anymore. So, to keep premiums affordable, insurance companies lowered the contracted amounts they pay doctors. Some doctors did not like these amounts and refused to accept these new contracts. Which, in turn, gave you fewer doctors to choose from.
There is not much you can do to get a better network if you buy an individual plan through Covered Ca or direct from the carrier. However if you are a small business owner with 1 or more w2 employee you can offer employee benefits. By offering employee benefits you will have the choice. Should I offer the new “narrow” or “tailored” network or should I offer the network that provides all of the doctors in my area? Even if you have over 50 employees you might be shocked how much more affordable it is to offer insurance than to pay the penalty.