No one saw this coming……right?
Thirty percent of employers will definitely or probably stop offering health benefits to their employees once the main provisions of President Obama’s federal health care law go into effect in 2014, a new survey finds.
The research published in the McKinsey Quarterly found that the number rises to 50 percent among employers who are highly aware of the health care law.
…The research notes among the new provisions that could spur employers to drop coverage is a requirement of all employers with more than 50 employees to offer health benefits to every full-timer or pay a penalty of $2,000 per worker. Those benefits must also be equal between highly compensated executives and hourly employees – requirements that will increase medical costs for many companies.
The findings are distinct from a Congressional Budget Office estimate that only about 7 percent of employees who currently get health coverage through their jobs would have to switch to subsidized-exchange polices in 2014.
The group said its variance is so wide because shifting away from employer-sponsored insurance “will be economically rational” given the “law’s incentives.” The law requires employers to make insurance available to low-income or part-time employees that may not otherwise be covered.
Hell, we here at FA have been saying this for years now. CBS did a segment on this very topic 9 months ago
This is the law of intended consequences unfortunately…it’s been the Obama administrations endgame all along. ObamaCare will force employers to pay the penalty and drop their healthcare, which forces people into government run healthcare, which drives insurance companies out of business and TA-DA!
Socialism in America.
If Congress can impose this economic mandate on the people, what can’t it mandate the people to buy?