Universal health care has become the hot-potato of the Democratic primary that raises more questions than it answers. It’s a nasty multi-headed monster from Greek myth that will turn you to stone if you look in its eyes.
I work for a small company and pay $150 a month for my health insurance. The company picks up the extra 75% of the policy. It costs the company about $10,000 a month to pick up the remainder for the ones of us that they cover.
I know, because I pay the bills.
We have a “rich” benefit plan (in the parlance of insurance agents) that Aetna doesn’t even offer any more to new clients. The rates went up in July. Aetna has us over a barrel: keep your current coverage and pay more or pay less and get much, much, much less.
Throw universal care into the picture, and I’m not sure where that will leave me. If a government-sponsored alternative is available, I’m not sure that our Board of Directors wouldn’t opt for it. It would save about $120,000 a year. And doing so might be good financial advice.
Still, I like my expensive, although it be totally private and unsubsidized, health coverage. But working in finance, I would have an obligation to point out that any federally subsidized alternative would need a close looking at. If there’s an alternative to $120,000 a year, I am duty-bound to point it out.
$120,000 isn’t a lot as far as day-to-day operations go. We routinely write checks for much more and transfer much more than that between accounts to keep the wheels greased and running smoothly.
Still, when we close the books out on June 30, $120,000 can make the difference between profit and loss. I just wonder what they Board would do if they had the option of getting rid of that $120,000 liability.
Most of them have really good healthcare coverage because they work for hospitals. I just hope they remember the little people when they make their decisions.
Thus, the hot potato.
I hope they at least have some butter and freshly-cracked pepper as a consolation prize.
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