So on Monday, when the Obama administration postponed a requirement for companies with more than 50 employees to offer health care, it did not immediately impact Tim Copeland's business.
But the delay in Obamacare "is delaying the ultimate for another 12 months," Copeland told the Wall St. Journal today. Companies his size were given a one year reprieve on having to insure employees, but Copeland Furniture already does so.
The family-owned and -operated business got its start making cider presses in the 1970s, moved into butcher-block kitchen furniture and Adirondack-style porch furniture, gradually changing from a one-man operation in an old garage to a state-of-the-art manufacturing facility using a combination of leading-edge computer technology and traditional craftsman technique. Its beautiful designs are a unique take on Arts & Crafts, Mission, Shaker, and Scandinavian movements.
What is impacting Copeland Furniture is the rising cost of insurance premiums. . .Copeland Furniture saw a 30% spike in 2012. Tim Copeland told the Journal he may consider eliminating company insurance and begin covering his employees through the Vermont state insurance exchange - if benefits and coverage were comparable to their current program.
Paul Downs Cabinetmakers related his insurance in transition story. I suspect there are hundreds if not thousands of wood manufacturing firms affected by the changes in insurance. Let me know about yours.
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