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Had another meeting on the HRA approach. This one was different because the average wage was $14 hour.
The group really liked the thought of dropping the group health and going individual. The ownership has health problems of their own, so GI made them happy.
Then we crunched the numbers on possible subsides inside the exchange. You take an employee making about $35K a year (bread winner in the family) This guy is looking at $120 a month after subsidies on the silver plan Vs. $800 a month on the group health plan. When you 42 guys all in the $14 hour market the HRA approach looks really good.
The group really liked the thought of dropping the group health and going individual. The ownership has health problems of their own, so GI made them happy.
Then we crunched the numbers on possible subsides inside the exchange. You take an employee making about $35K a year (bread winner in the family) This guy is looking at $120 a month after subsidies on the silver plan Vs. $800 a month on the group health plan. When you 42 guys all in the $14 hour market the HRA approach looks really good.