Owner: 'A 40% increase in our health insurance may mean that we don't provide health insurance anymore'
Lynchburg, VA (ABC 13)- It's been called the biggest political lie of 2013: President Obama's promise to Americans that if they like their current, private insurance plan, they can keep it. We know now, of course, that's not true.
In fact, many private insurance plans are changing and costing more because of requirements under the Affordable Care Act. Wistar Nelligan started Nelligan Insulation in 1999.
After a lot of hard work, and the challenges of an up and down economy, Nelligan's company now faces one of its biggest challenges yet: changes to its health insurance, mandated by the Affordable Care Act.
"Everybody is confused and nervous about it," Nelligan said.Nelligan likes providing healthcare for his employees, and says it's a good plan with good benefits. For him and his employees, however, everything will eventually change. They've tried putting that off as long as possible, extending their current plan early.
When their health insurance plan changes, though, to follow new premium rating requirements under the ACA, they expect their insurance costs to go up, perhaps as much as 20-40%! "A 40% increase in our health insurance may mean that we don't provide health insurance anymore'
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