So much for making healthcare “affordable.” The “Affordable Healthcare Act” has done anything but. It has driven the cost of health insurance up, it is causing doctor shortages, it has driven up the cost of medical technology, and its penalties and regulations are now costing our economy precious jobs and work hours.
from Financial Times:
Employers are concerned that the law increases the cost of insuring employees on existing plans, partly by broadening the range of benefits. It also requires companies to insure some employees not previously covered.
David Dillon, chief executive of the Kroger supermarket chain, told the Financial Times that some companies might opt to pay a government-mandated penalty for not providing insurance because it was cheaper than the cost of coverage.
Nigel Travis, head of Dunkin’ Brands, said his doughnut chain was lobbying to change the definition of “full-time” employees eligible for coverage from those working at least 30 hours a week to 40 hours a week.
Some restaurants, including Wendy’s and Taco Bell franchises, have explored slashing worker hours so fewer employees qualify for health insurance, arguing that they cannot afford the additional healthcare costs. Other businesses are deliberately keeping headcounts below 50.
Mr Dillon said Kroger intended to continue covering all full-time employees but maintained that parts of the law were “simply not workable”.
“If you look through the economics of the penalty the companies pay versus the cost to provide coverage, the penalty’s too low, or the cost of coverage is too high, or the combination is wrong,” he said.
The above collage of company logos is just the beginning. The effects of Obamacare will be felt far and wide, and the impacts will not be positive. There will not be a single American unaffected by this unmitigated legal disaster.