Woodshop owner Paul Downs decided to invest his time in carefully researching Obamacare, to find out whether, and if so, how much, his 17-employee firm could save courtesy of the Affordable Care Act.
Smaller businesses - those with fewer than 50 employees - can buy insurance through the government small business insurance program, and the cost will be subsidized. Original plans were to have this online Nov. 1, but these were dashed with the rocky launch of HealthCare.gov
In a great public service to all small businesses, Downs - owner of Paul Downs Cabinetmakers in Bridgeport, PA - carefully details his calculations and has posted them at his site. He has also recorded his decision process over the past couple months. (You can download the calculator below.)
|Paul Downs Cabinetmakers||2013||2014|
|Download the Paul Downs Cabinetmaker Affordable Care Act Calculator|
Downs, who started making furniture in 1986, now operates a 33,000 square foot shop in Bridgeport, PA. Work is half residential, the rest office furniture.
As a woodworking business commentator, Downs is a rockstar - blogging for the New York Times "Your the Boss" small business channel about his custom conference table woodshop on a regular basis.
What Downs determined in analyzing healthcare for 2014 is that his firm could save by allowing employees to select from a menu of programs - some bought less coverage, some more - and taking advantage of government support.
Overall, Paul Downs Cabinetmaker's premiums were reduced by 19% for 2014 versus 2013.