Insurance premium increase of 85 percent a stunner | WHAT REALLY HAPPENED

Insurance premium increase of 85 percent a stunner

The owners of the Sockshop & Shoe Co. face a stunning 85 percent increase in the cost of their group health insurance plan for their employees.

“When you’re doubling the cost, it’s threatening,” said Eric Gil, co-owner with his wife Ellen of the longtime downtown business.

Ellen, with 2016 quotes from the insurance agent in hand, said, “One choice is the nuclear option — don’t offer insurance.”

This is not what they expected from the Affordable Care Act. They thought rates could go up 10 to 12 percent, hoping as more people got health coverage, costs would come down, but that’s not happening.

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