SharePresident Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.
CBO said that this year’s tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they’ll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.
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In typical CBO fashion, we will see a dozen revisions to this number over the next few years. As this 7 million drops the employer coverage, cost will rise driving another 14 million from the pool. And so on until private insurance is just a memory.
Pretty amazing the destructive force of an ignorant citizenry.
“Pretty amazing the destructive force of an ignorant citizenry”… Or a cleverly designed plan.
The goal all along was not the implementation of Obamacare. Passage of it was just the first step. When it doesn’t work as planned the businesses who found a way out of providing coverage will get the blame for the failure, as will every Republican including George W. Bush. Then will come the push toward the ultimate goal – Universal health care.
This article suggest that 5% of the employed, excluding those who’s hours will be reduced to part time to avoid any penalty (tax), will be losing employee provided health care due to Obamacare.
Three questions:
1) What provision(s) of Obamacare would induce an employer to eliminate health care benefits (which are part of an employees compensation package) for an employee who was already receiving those benefits? It would constitute the equivalent of a pay cut for an employee who, if currently employed, I am going to assume is doing an acceptable job.
2) Why would a business choose to deal with the turmoil caused by such a compensation cut?
3) Why would a company choose to deal with the loss of talent which would result from employees moving to companies which provide better compensation?
Is it as simple as the CBO calculating that Obamacare will drive up the cost of employer provided insurance to the point that they can no longer afford provide it and stay in businesses?
Yes. It will be more fiscally defensible to pay the penalty (tax) than to pay the increased cost. This, of course, has been the plan from the beginning. Once government had it’s foot in the door, they could drive up the cost of doing business high enough that it would no longer be feasible to do business in this arena. Once that occurs, there is no one left to provide the service and the impetus is placed upon government to make it happen.
Put simply, they force private insurance out of business, and take over the market as a single-payer. Basic thug-tactic, Chicago politics style.