Young Adults covered, Add Cost

Serigraph, picked up 12 people in the 19-25 age bracket because of the mandate to cover them under ObamaCare. That’s about a one percent increase in our lives covered. It’s great that they are covered, but, like everything in life, unless you are a creataure of Washington D.C., it comes with a price tag. We estimated taht the young adults will cost us an average of about $2,000 per year in our self-insured plan. So, add $24,000 to our plan cost. We will pick up a little bit of premium as some employees move up from single to family-type plans. Since we split our costs with cor-workers on a 75%-25% basis, the employees in the company will pick up about $6,000 in new costs when premiums come up for an annual increase. We’ll work to offset that mandated increase, but it’s a real number. That comes to about $15 per year per employee. The young people who have jobs, probably parttime jobs, will have to pay tax on the value of the coverage. Wisconsin had already mandated coverage for students through age 26, so some of those were already on our plan.