It has been a while since I have done one of these so you will get a two for one deal today.
Recently, Papa John's Pizza made big news announcing that the cost of their product will be going up to cover the cost of their rising health care expenses from ObamaCare...gee who didn't see that one coming? However, they are not the only business who will be in that boat.
Nearly two-thirds of employers expect to see a cost hike in their health plans when the Affordable Care Act goes into effect in 2014, and a quarter say they will have to make changes to their coverage to avoid penalties, according to the survey by the Mercer consulting firm.
Retail and hospitality industries, which typically employ larger numbers of part-time workers, are bracing for the biggest increase in costs — 46 percent said they’re expecting costs to increase by a minimum of 3 percent. The health care industry is close behind, with 40 percent expecting that increase in costs.
But how can that be? The President PROMISED that this would not happen...Well anyone who actually READ the bill (which excludes most of Congress) knew that regardless of what the President "promised" this was the reality.
And that promise that if you like your health care, you get to keep it???? Out the window too.
But very few employers surveyed — 6 percent — said they’re likely to drop health coverage altogether as a result of the law, leaving employees to use the exchanges or the individual market. The great majority said they’d keep what they have now.
Oh and that whole "affordable" thing???? That is out the window too!
A glitch in the language of Obamacare could make the “affordable” health plan unaffordable for millions of American workers, the New York Times reported.
Wrangling over the legal definition of “affordable” could mean some families would be unable to afford family coverage offered by their employers, and would also not be eligible for subsidies, according to the Times.
For a family making $35,000 a year and paying $4,130 in family health coverage through an employer’s plan—12 percent of the family’s total income—the costs would be deemed affordable under Obamacare and they would not be eligible for government subsidies...
...Under the proposed rules, health insurance provided by an employer is considered not affordable if a worker pays of premium of more than 9.5 percent of the worker’s household income. The Internal Revenue Service says this calculation should be based solely on the cost of individual coverage for the employee and not coverage of a spouse or children. Family coverage typically costs much more.
So to recap - the cost of increased health care to employers is being passed on to consumers in the form of higher prices, some employees WILL lose their coverage due to no fault of their own AND the cost of purchasing that health care will go up for middle class families and they aren't eligible for the government "subsidies" ....pretty much everything that the GOP said would happen with this bill is starting to come to pass.
But that is what happens when you read legislation BEFORE you pass it...you actually know what IS in the bill. Something the Democrats in Congress just might want to think about the next time...