Thomas Farrell Benefits and Insurance Leave a Comment

If you saw the second 2016 presidential election debate recently, you no doubt saw an interesting exchange between the two presidential candidates for 2016. Hillary Clinton and Donald Trump sparred on many issues, mostly on which one was the biggest liar. Miraculously, there was something they actually both agreed on.

In the middle of a lot of information in that 90 minutes nestled an important topic that many of our own constituents are concerned about; affordable health care. The ACA, also known as Obamacare to those who are usually opposed to it, was designed to provide a way for those struggling to get health insurance coverage a way to be covered. It was a noble idea. It had concern at its core. Ironically, the reality of the ACA and its impact on healthcare costs for small business owners and the independent workers, a large majority of which struggle with coverage, has been a greater expense.

The Presidential Candidates for 2016 Actually Agree On The ACA…Sort Of

In the middle of arguing and interrupting, the subject of affordable health care came up. The first to respond to the question was Donald Trump. According to The Donald, the ACA is a disaster. In fact, almost anything he didn’t like was described as a disaster. However, he rightfully pointed out that health care premiums are ever increasing with deductibles that make it impossible for most to use their health insurance and they will be going up again this year.

Why are premiums on the rise this year? It is simple; government subsidies to the insurance companies in the exchange in order to cover the financial deficit of having to offer low cost plans is going away in 2017. Since the insurance companies are not in the business of losing money and neither are their shareholders, you and I and every one else will pay the difference.

Donald Trump’s plan to fix the problem is to make the problem go away. He wants to be rid of the ACA entirely. There are many who are staunchly behind him because of this. That also creates a vacuum for those who are now able to be insured by way of the no pre-existing medical conditions clause in the ACA that says no one can be rejected by a health insurance company for an existing medical condition. When asked how he would solve that problem, he gave no merited answer.

What Hillary Clinton Said About The ACA During The 2016 Presidential Election Debate

Hillary Clinton is a long time supporter of nationalized health care. She has also been a consistent supporter of getting health care for the vulnerable, especially children. This is not a bad position to have. When the ACA was put in place, many pointed back to the efforts of the Clinton administration finally becoming a reality.

What she did say during the debate was that it needs fixing. She admitted that the rising cost of premiums and staggering deductibles doesn’t work for small business owners and independent workers and that is something that needs to be fixed. How she would fix it she didn’t say. Many suppose it would be by way of higher taxes to pay the difference and keep the premium costs and deductibles low.

Secretary Clinton wants to keep in place what does work and fix what doesn’t. She said that matter of factly as a rebuttal to Donald Trump’s assessment of “disaster.”

How To Make Sure None Of This Applies To Your Small Business

No matter what your take on the two presidential candidates of 2016 is, whether you feel that the ACA is a disaster or something that needs legislative duct tape, we can all agree that the costs are crippling the small business and independent worker. If you were feeling the pinch last year, brace yourself.

Neither candidate said this problem would be fixed any time soon. In fact, both solutions require a lot of work and time to get through legislation. What can you do now? Consider a PEO to solve your health care cost conundrum. Chances are you thought of a PEO and decided to not pursue it further for one reason or another. Premiums price hikes this year is a great reason to reconsider. Are you happy with what you are paying now?

Find out today how a PEO can save you up to 40% on health care costs this open enrollment season. Never mind waiting for prevailing of the two presidential candidates for 2016 to fix things sometime in the next 4 years, if at all.

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