Construction Equipment Extended Warranty:
A Potential Safe Haven from the High Costs of ObamaCare
In 2009, the nation saw a radical change in our healthcare policy when President Obama’s Affordable Care Act, ObamaCare, made its way through the Democrat-controlled Congress and then upheld by the Supreme Court of the United States making it a constitutionally sound law. It promised to make health insurance more affordable to millions of previously under-insured and uninsured individuals over the span of a decade.
At a conference with small business owners, many being of the construction equipment industry, four years ago in Chicago, Mr. President promised that ObamaCare would be written in the interests of Americans like us [small business owners] and our employees. He said that his plan would lower premiums through insurance exchanges that would ultimately offer groups of businesses bargaining powers while having insurers compete over them. Sounds a little too good to be true?
As we start to gear up for the effects of the Obamacare mandates, many dealerships are starting to worry. And they have a right to. All over the country, construction equipment dealerships health care premiums are projected to rise by as much as 13-23% in one year’s time. With health care costs already a major expense for dealerships, a rise in premiums will inevitably eat away at the bottom line of each dealership. On top of that, if you are an dealership with over 50 employees, you will be mandated to provide health insurance coverage which will easily eat away at your already shrinking budget.
So What is Going to Happen?
According to a recent Chamber of Commerce survey, 71% of small business owners say that ObamaCare will make it harder to grow their businesses. And because of it, more businesses will be cutting hours and/or decreasing the number of full-time employees and increasing the number of part-time employees. This could be the end to the 40-hour work week that has always been the backbone of the American middle class.
One way to help protect your dealership from the rising costs associated with the implementation of ObamaCare is to decrease your accrued expenses elsewhere. One expense that every dealership accrues is the direct result of construction equipment failures and malfunctions and the hassle that goes with fixing them, which can often prove extremely costly. One valuable tip that will help you can protect your dealership’s bottom line is by offering construction equipment warranty contracts on your fleet.
By providing extended warranties on your construction equipment, your dealership can stand to protect itself financially from lofty maintenance expenses as well as the inevitable rise in health care premiums that are expected to impact construction equipment dealerships across the country starting next year.
Don’t wait until it’s too late for your dealership to dig yourself out of a financial hole. At Protect My Iron, we can provide you with the information and quotes you need to cover your construction equipment past its manufacturer’s warranty. Protect My Iron actually was designed with your dealerships in mind. And that promise will be kept.
Call or Click Today to find out how Protect My Iron’s extended warranty programs can help your dealership offset the impending costs of ObamaCare!