Using published data, imagine how excited you’ll be to keep your current insurance, that’s part of your compensation package with your employer, when you get hit with a new, higher payroll deduction!

As reported by MedScape

Under the bill, employers that do not pay for at least 60% of the cost of the monthly premium for their employees’ insurance will be assessed an annual fee of $750 for each uncovered family, and $375 for each uncovered individual. The provisions wouldn’t apply to businesses with fewer than 25 employees.

From Wikipedia we learn that,

“[i]n 2008 the average employee contribution was 16% of the cost of single coverage and 27% of the cost of family coverage…[a]verage premiums, including both the employer and employee portions, were $4,704 for single coverage and $12,680 for family coverage in 2008.”

Basically, using the above averages, this means that where right now an employee averages:

Individual

$4,704 annual premium
Average cost to employee = 16% of total
Cost toward premium = $753

Family

$12,608 annual premium
Average cost to employee = 27%
Cost toward premium = $3,424

So, when employers are mandated to pay at least 60% of the total premiums, how much are you now going to pay as an employee?

Individual

$4,704 annual premium
Average cost to employee = 40% of total
Cost toward premium = $1,882
$1,129 MORE annually

Family

$12,608 annual premium
Average cost to employee = 40%
Cost toward premium = $5,072
$1,648 MORE annually

But hey, your income taxes didn’t increase, did they?  Oh, wait – taxing your health insurance value is also on the table, so that too might happen too!

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