CalSavers . . .The Obamacare of Retirement in the State of CA

They say that words have meaning. My show today is again like turning the clock back to a different era when health insurance was structured more with the employer in charge and not the government/ medical community. Enter the word . . . Mandated. The synonyms of this word are quite startling, because they depict something other than what the politicians intend in their rhetoric that they purvey upon us all. Mandation is another word for command, decree, order, dictate. In the early 1970’s (HMO Act of 1973) during my insurance career, my secretary walked into my office and informed me that Washington, DC was on the line to speak to me. My agency had a good deal of group medical business on the books and Congress had recently passed legislation to fund Federally Subsidized Health, now commonly knows as HMO’s. I was going to be sent a roster of companies within a certain geographical areas of employers/companies with 25 or more employee’s to contact and relay to them this alternative in healthcare delivery and I was given the authority of “Mandation” to the extent that they MUST MEET WITH MY AGENTS. Fast forward to 2021 that incursion into the benefits realm of employer entities has now grown to a national healthcare infrastructure known as Obamacare. The Supreme Court now for the 3 time has ratified that healthcare in America and it appears that the argument for elimination has now faded into the sunset of failed attempts to remove it. There is an old saying that “Salary Attracts and Benefits Retain”. This is a truism in Employee interface and up until now has been left to the discretion and generosity of the employer in providing these benefits to his/her employee workforce. Not any longer. Today, my guest and I will be exploring a new move in the State of CA known as CalSavers. This is now a mandated regulation that will require all employers by June of 2022 to comply with the procurement of a retirement platform for their employee’s whether they like it or not, eventually down to 5 employee’s or more! You don’t want to miss this show as we will be dealing with another decree from Sacramento that less than 1% of the Small Businesses in CA are informed about. What you don’t know, can be devastating! Join us as we uncover what is on the horizon for ALL Small Businesses in the State of CA! Mandated . . . do you like that word?