Caterpillar of Peoria, Illinois has said the new health care reform bill will cost them over $100 million per year, once it is implemented. General Motors, back in 2005, said that the cost to insure their employees added $1500 to every vehicle. In 2005, they spend $5.2 Million on health insurance.
With the new law that goes into effect corporations will be required to pay 85% of their employees health insurance costs, and 75% of their families health insurance costs, or be fined.
Caterpillar, has floated the idea of dropping health insurance and pay the fine, it would save them millions of dollars. The other option, and this is my thought and not the opinion of caterpillar, is to reduce your work force and build your equipment in some other country. Yes, we could support another countries economy in the process.
I purchased Paul Zane Pilzer’s book back in I think 2005 “The New Health Insurance solution”, on the first page he reccomended that everyone purchase and individual policy rather than a group policy. The reason was it is SAFER, you do not loose your insurance if you loose your job. He goes on to say that loosing job related insurance is how ONE MILLION AMERICANS every year end up in Medical Bankruptcy.
This was in 2005, now is the BEST TIME to purchase your individual health insurance plan. Until 2014, you still need to medically qualify, but do it now. You will see companies dropping thier group health insurance in 2014. It makes economic sense to do so. Also, when companies started to provide health insurance, it was a hiring benfit, to make their company more attractive to a perspective employee. Now with the costs of health insurance, the new rate structure that is in place, and the economy, many companies, will not be able to afford to pay for insurance.
GET IT WHILE YOU CAN!! You will probably never be healthier than you are today.
thanks for reading.
Eric Wilson is the President of I SELL HEALTH, INC. He is also a licensed insurance producer in Chicago, serving Illinois, Wisconsin, Ohio, and Indiana. His website is www.isellhealth.net. He can be reached toll free at 888-448-5370.