Obamacare Could Doom Employer-Provided Insurance
Mark Wright
Thought this might be helpful to those who still think OBAMACARE is a good idea. Major companies think it is since it will save them BILLIONS of dollars annually
Mark
Obamacare Could Doom Employer-Provided Insurance
Millions of American workers could lose their employer-provided health insurance under President Barack Obama’s healthcare reform.
That’s because employers are finding that it may be cheaper to pay fines to the government for not providing insurance than it is to insure employees, notes John C. Goodman, president, CEO and Kellye Wright fellow of the National Center for Policy Analysis.
AT&T, Caterpillar, and Verizon are among the companies that have already made internal calculations to determine how much could be saved by dropping employer-provided insurance, Goodman writes in an editorial in The Wall Street Journal.
AT&T, for example, paid $2.4 billion last year in medical costs for its 283,000 workers. If the firm dropped its health insurance plan and instead paid an annual penalty of $2,000 for each uninsured employee, the fines would total less than $600 million — meaning AT&T would save about $1.8 billion a year.
“Economists say employee benefits ultimately substitute for cash wages, which means that AT&T employees would get higher take-home pay,” Goodman writes, adding, “But considering that they will be required by federal law to buy their own insurance in an exchange, will they be winners or losers?”
Bruce Gordon
It is a strange system you have when employers can reduce peoples benefits willy nilly. Here that would be considered a breach of contract.
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Mark Wright
Thank Obama and his cronies for the passage of “OBAMACARE”, what we will see is the major corporations drop healthcare and make OBAMACARE pickup the tab, which means more taxes on people like me. Sorry OBAMACARE needs to be repealed immediately.
Mark
