So, What is ObamaCare?
Richard Dunn, president
of Preferred Health Plans
of the Carolinas, was given the daunting task of trying to explain ObamaCare to the Matthews Rotary Club.
With changes to the program happening on a regular basis, Richard was asked to try to explain it in simple terms that anyone could understand. The most current change, he said, was that the employer mandate, which requires businesses to provide their workers with health insurance – that was delayed by one year.
The “pay or play” portion of the bill means that large employers who do not offer benefits to at least 95% of their employees and dependents will pay a penalty of $2,000 per employee. Employers of 50 employees or more must offer a minimum value plan (Bronze) to avoid the penalty.