CBO: Obamacare will end medical coverage for 7 million working Americans!

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    CBO: Obamacare will end medical coverage for 7 million working Americans!

    President 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.


    Maybe the REAL goal was just more govt revenue?

     
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  4. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to WhatDoYouWantNow's comment:

    In response to jmel's comment:

    "If you like your insurance, you can keep it" 

                                                           BHO


    Yeah. He should have included "(If your employer isn't an @sshole)"




    Or unless your employer wants to actually remain in business and keep people employed.

     
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  6. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to Newtster's comment:

    It's by design. They want the employer out of the mix.  They really do not care if it costs people more money or causes them to lose work hours or their job. They want controll of the health care insurance market. THey'll mess that up as an excuse for going to single payer. That is what they always do, get their foot in the door, make the problem worse and then say we need to do more, spend more etc.

    Here is another indicator:

    http://news.investors.com/ibd-editorials-perspective/020113-642941-retail-leisure-jobs-hours-down-obamacare-looms.htm

    New Treasury Department guidelines released early last month give businesses until June 30 before their staffing levels begin to influence fines that may apply in 2014 when the ObamaCare exchanges launch.

    The law exempts companies with fewer than 50 employees from providing health care coverage. Firms with at least 50 workers face fines based on the number of employees who receive ObamaCare subsidies, which are only available to people who lack affordable coverage from an employer.

    But those fines — up to $3,000 per ObamaCare subsidized worker — won't apply for part-time workers, which the law defines as 30 hours per week.

    An obvious strategy to minimize fines is to cut some workers to just below the 30-hour threshold. Staying below the 50-worker threshold — based on total hours rather than a simple head count — also may be an option.

    TrimTabs Investment Research CEO David Santschi said last week he expects sluggish growth as "businesses prepare for the full implementation of ObamaCare," adding to the impact of fiscal-cliff tax hikes.

    The National Retail Federation on Friday urged President Obama to "delay health care reform mandates that will force employers to cut their payrolls or reduce hours for workers."

    A number of larger retail and restaurant employers have signaled that they may keep a lid on worker hours to avoid the responsibility of providing coverage that meets ObamaCare guidelines.

    Read More At IBD: http://news.investors.com/ibd-editorials-perspective/020113-642941-retail-leisure-jobs-hours-down-obamacare-looms.htm#ixzz2K8JZDmcn 
    Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
     



    It seems to me the only thing the feds want is more money. If we send all the premium dollars to the govt and end private insurers then the govt can give us what they want and there is not a damn thing we can do about it and they control another trillion of our money!

     
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  10. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    This is begging the question:

    Why do employers offer health insurance in the first place...?

    Is it just because of tax breaks or because they want a healthy workforce and to attract the best talent...??

     

    This isn't news, btw.  The CBO estimates change as the economic indicators change.  Last year, the estimate was 5-6 million workers who will shift to the exchanges.  (NOT "end coverage") Weighed against the 28-30 million who will get access to health insurance, the overall risk pool still expands...a large net gain of insureds.

    Health care service and delivery is long overdue to become a more transparent, retail-like industry, with clear, upfront pricing schedules and stricter standards for the quality of care provided.  Doctors will finally be incentivized to keep patients healthy - in turn lowering costs for everyone.

    No more profits over patients.  Those days will soon be over.  And good riddance.

     

     

     

     
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  12. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to GreginMeffa's comment:

    Does it really matter WHY 7 million workers will lose their insurance?  Rather THAT they will, and is the polar opposite of the promise of ACA.

    And its not like no one saw this coming.



    That's the choice of the employers, who will reap what they sow in the market for quality employees.

    They won't "lose" their insurance.  If their employer "takes" away that benefit, the exchanges will pick up the slack.

     

    And incidentally, the commerce being created by these changes in certain industries is a windfall for certain business service companies...to the tune of hundreds of millions.

     

     

     
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  15. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to WhatDoYouWantNow's comment:

    In response to tvoter's comment:

    Or unless your employer wants to actually remain in business and keep people employed.

    So dramatic, Francis.

    It's not a question of staying in business and you know it perfectly well.



    What I know is that for many small businesses (less than 500 employees) that are facing many other burdens in this economy with consolidation in many industries, new regulations, and now the burden of even higher healthcare for employees they have to make hard decisions which in some cases means to avoid laying off employees they're having to cut healthcare coverage for them!

    BTW: there was no mandate they provide this health insurance in the first place but, they did so, your "corp greed is the reason" rant is absolutlely flawed!

     

     
  16. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to WhatDoYouWantNow's comment:

    In response to tvoter's comment:

    Or unless your employer wants to actually remain in business and keep people employed.

    So dramatic, Francis.

    It's not a question of staying in business and you know it perfectly well.

    [QUOTE]


    What I know is that for many small businesses (less than 500 employees) that are facing many other burdens in this economy with consolidation in many industries, new regulations, and now the burden of even higher healthcare for employees they have to make hard decisions which in some cases means to avoid laying off employees they're having to cut healthcare coverage for them!

     

    BTW: there was no mandate they provide this health insurance in the first place but, they did so, your "corp greed is the reason" rant is absolutlely flawed!

     
  17. You have chosen to ignore posts from jackbu. Show jackbu's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    That is what was said about Romeny care but I did not see any of his supporters complaining during the election.

     
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  19. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to WhatDoYouWantNow's comment:

    In response to tvoter's comment:

    BTW: there was no mandate they provide this health insurance in the first place but, they did so, your "corp greed is the reason" rant is absolutlely flawed!



    Huh?




    Read slowly.

    Employers have been providing (or covering most cost) for medical insurance for employees and family voluntarily or while not legally mandated to do so for decades so, to try and claim it's all about corp greed is ignorant!

     
  20. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    In response to WhatDoYouWantNow's comment:

     

    In response to tvoter's comment:

    Employers have been providing (or covering most cost) for medical insurance for employees and family voluntarily or while not legally mandated to do so for decades so, to try and claim it's all about corp greed is ignorant!

    So you don't think that employers who drop coverage as health care costs, thus premiums, rise are doing so for monetary reasons?

    Really? 


    [QUOTE]

    Absolutely they are but, not because they are just greedy and want to hurt the employee!!

    They do it because under obamacare costs have skyrocketed and they want to stay in business and provide and income to employees; and the "fines aka revenue" they will have to give the govt instead is much less and will not force them out of business!

     

     
  21. You have chosen to ignore posts from UserName99. Show UserName99's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    If the US had true socialized medicine like civilized nations do, it would free all businesses of the huge cost of employee healthcare and the management burden of healthcare currently weighing them down.

    It would lead to a healthier employer/business climate and a freer, more mobile employee workplace as employees wouldn't be hanging on to dead-end and disliked jobs simply to retain health insurance.

    The Republicans are stifling business by opposing socialized healthcare and opposing the less socialized ACA (Obamacare).

    The GOP is upside down with reality, as usual.

     
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  23. You have chosen to ignore posts from FaolanofEssex. Show FaolanofEssex's posts

    Re: CBO: Obamacare will end medical coverage for 7 million working Americans!

    I hope when the masses of employers start dropping insurance for their employees that they compensate them the difference.

     
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