New Bill Aims to Lower Employee Insurance Rates
posted 8:09 pm Tue February 19, 2008 - Mt. Pleasant
Lawmakers are taking on the healthcare issue in the business friendly Palmetto State. Like most of the nation the healthcare issue is a top priority. But so is the bottom line for businesses. Nearly 700,000 people in South Carolina are without health insurance. Each winds up costing the system about $2,000 a year and sixty percent of those uninsured do have a steady job.
State lawmakers are hoping to make headway on the issue. Governor Mark Sanford is expected to sign a bill making it affordable for small business owners to insure employees. The bill would allow small businesses to get together and negotiate a cheaper rate with insurance carriers. The current law caps the number of employees at a thousand, the new law would eliminate that restriction.
For 75 years, the Stuckey family has owned and operated Stuckey Bros. furniture store. Over that time, the business world changed, but one issue central to Lee Stuckey's success is caring for his employee.

"It's been more like a family, small store and independently owned," said Stuckey.
Like every other business owner, Stuckey constantly deals with the rising cost of health care for his employees. At the start of each year, he spends less time picking out bedroom sets, couches, and accents, and more time shopping for coverage.
"Some years, it will jump ten and fifteen percent," said Stuckey.
Stuckey pays 90 percent of his employees’ coverage plan, often switching carriers to make sure it stays affordable.
"We try to offer the same benefits even if we have to change companies, some times it's tough and this year we had to take a higher deductible," said Stuckey.
Once Governor Sanford signs the new small business coverage bill, Stuckey plans on locating other companies to team-up with. In hopes to lower insurance costs. The more employees grouped together, the cheaper the rates. Savings that would help any owner sleep a little better at night.
The law would require at least ten businesses to join to acquire the lower rates. Over the past 15 years, Stuckey says insurance rates have tripled.
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