ObamaCare Fact of the Day
Small business owners face a Catch 22: They can accept double-digit premium increases from their existing insurance companies, averaging 10 to18 percent nationwide, or they can shop around for new coverage, in which case they will lose their “grandfather” status and will have to comply with 20 new mandates in the health care law, each of which could raise insurance premiums by one to three percent.
Full Wall Street Journal article on the costly effects of health reform on small businesses.
This is why there will be few grandfathered plans in existence a decade from now. Most will wither away through attrition and the normal churn. One has to wonder whether framers of the law added a provision allowing grandfathered plans knowing few would remain.
Obviously this bill is not pro small business. No wonder the NFIB changed sides.
I don’t think there’s any way that Congress thought grandfathered plans would really exist after a few years.
The only question to be asked about NFIB is what took them so long?