With the passage of the Affordable Care Act in 2009, many small businesses suddenly became worried how they would deal with such a monstrous cost. In 2014 companies are required to start offering health insurance to not only their employees but their families as well. Under the law any business with over 50 full time employees (30 hours or more in a month) will either be offered health insurance or the employer can pay a fine of $2,000. As healthcare costs continue to balloon this will place a heavy burden business or the employees of these small businesses. Some companies are expected to drop employees down to 49, others are contemplating reducing employee hours, some are thinking of simply paying the fine, and other employers are going to require their employees to pay more for health insurance which will take more out of a paycheck in an economy where many are already under employed. No matter what, there are no winners in these situations because many of the businesses that offer insurance to their employees may not be the amount of coverage Obamacare requires thus making an increase in coverage necessary or dropping the health insurance altogether. In addition, in 2014 employers will be required to pay $63 per person insured to the government so a cushion can be created to insure those with pre existing conditions. $63 may not be that much money but for the large corporation the cost can be in the millions of dollars which will then be passed on to the consumer. Inflation will go up, wages will go down, its hard to understand why a bill like this ever passed.
I've been following this story for quite a while, its upsetting to see how it is destroying small businesses across the country. I don't think the government has any business meddling in our health and in the end I think history will judge this law and one of the worst moves our government has ever made.
http://online.wsj.com/article/SB10001424127887323916304578401413507987532.html?mod=WSJ_article_comments#articleTabs%3Darticle
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