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Welcome to conference -- Jeff Flock and this week we want to talk about something -- -- talking about that is health care.
And perhaps some takeaways for business on the subject of health care from insurance brokers -- Stephen -- Who is not necessarily enamored of the new health care law but business has to deal -- it what is your chief concern right now.
Chief concern is the return of the excise tax the president illegally wasted without -- constitutional -- to do so.
It's in what that is in other words they have to be a 2000 dollar excise tax for every full time employee from the thirtieth full time point -- -- -- -- -- I have clients were facing 200000 dollar excise tax beginning in 24 team as -- as -- president -- that I called all of them were just leverage you know.
-- -- -- -- detonated but it is still coming.
It's -- they have to make preparations now for that tremendous burden on them if they don't provide.
Obamacare proved overture again he's the excise taxes if they don't provide -- that's correct it is not just a 2000 dollar fine.
You have to rounded up or gross -- what are your current income tax rate and so if -- -- of 40%.
That's a 2800 dollar fine for every single wonderful voice let's play some devil's advocate here with us law because you talk about the delay.
Well already -- delaying the employer mandate.
This is something was passed by the congress it's been affirmed by the Supreme Court.
What's the big.
The big -- that the Chief Justice John Roberts illegally -- -- the law.
The Supreme Court has a job and that is to -- interpret law as it is written.
And then save its constitutional -- unconstitutional.
Chief Justice John Roberts literally re wrote the law from a fine for not buying health insurance.
And said its attacks and then said the government has the power to tax so that's the problem and now we have to deal with it but it's only us we the people have to deal with it.
Business has been exempted for a year or waved right.
The US congress has got to said he -- -- bail out and all their help that your dreams again -- -- legally by this president.
The only people left is -- and watch after this whole debate with Obama can be funny is over.
Watch a waiver go to the unions so that they to get a massive subsidy and their Cadillac health about the people of the president has said.
-- when you look at the fine print on this.
The people will see that health care affordable health care can be had for about the cost of their cellphone bill what are you said.
Yes well here's how he's doing that.
This is -- average family income according to the US census in 20125100144.
For a family of four.
Okay this is the cost -- the cheapest health insurance plans according to Kaiser family institute.
OK we the people the 51% of us left paying income taxes in this country are going to pay to the insurance company not to them.
It goes the insurance company 8003 or 63 dollars all they're gonna pay 3005 -- -- ninety year.
But this could expose them to 121700.
Dollars in out of pocket expenses each year.
So we're paying this of the insurance company -- paying that they're I think Barack Obama is -- greatest thing since sliced bread because he magically reduced health insurance premiums.
Mean -- were on the hook for 8000 precinct three.
Just for this family.
Now extrapolate that over millions and millions of families who beginning these -- -- this is the largest transfer well.
From the US treasury to the health insurance industry in American history.
I ask you finally before we get away and run at a time cost of health care.
Obviously big costs here and nothing in Health Care Reform.
Appears is addressing those -- what would we do we wanted to address -- We repeal mandates if you go back to 979 there were total of two -- 52 federally state impose mandates on health insurance companies and all of them for medically necessary expensive.
Today -- obamacare were 2002 and 62 mandates.
I know that sounds like a lot and it means covering you have to cover this right right and they're not all make the necessary so I brought them with me it sounds like a -- this is what they look like when you roll them all out.
This is the reason that health insurance costs so much money if you go through here you're looking at some of these things.
Like health club memberships right here prosthetics.
What else athletic trainers smoking cessation there's a whole bunch of things that are not medically necessary.
And this is why health -- cost much money.
Get the government's big boot off the private sector and -- see previews go down that's not something that got addressed.
That's correct that's separate piles on -- he's -- tennis at your health benefits on January 1.
And we already had 65 for a -- free preventative care exams.
Nothing is free so all the -- it was it was raw -- or to pay for a free colonoscopy you know all these other 65 tests so nothing's -- Wisdom on the health care law from C Stephen -- Insurance broker.
Busy now because what people need guidance on the subject health care law don't know about the business going forward with these exchanges here.
That means you horror.
-- this week inside business on.
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