Wednesday, September 18, 2013

ObamaCare - The Train Wreck Coming

We are just a few short weeks away from ObamaCare, the train wreck coming at the American people.  As a business owner that must deal with all of this, I can say we face a fiasco of crazy rules that are almost incomprehensible.   Every day additional companies announce limits on medical coverage for their employees in 2014.  This is happening because ObamaCare did nothing to bend the cost curve and in fact as a result of all the "free mandates" in ObamaCare, our company has been told that we will see a premium increase next year of 12 - 15%, which is simply unsustainable.

ObamaCare requires that companies with more than 50 employees provide medical insurance for their employees, paying a minimum of 60% of the premium, or pay a $2,000 fine for each employee not covered after the first 30.  When doing so, there is also a requirement that families be offered coverage; but not spouses.   However, there is no requirement pay any part of the Premium for families.  

Further, if companies allow their employees to buy insurance through the company plan, then the employee is not allowed to shop the market on the State or Federal exchanges to see if they can get a better deal.   And, in addition, lower income employees cannot apply for a government subsidy if we offer them the right to buy insurance through our company even if they are required to pay 100% of the premium for their spouse and or family coverage.   None of this makes any sense. 

Many employers are already designating jobs as part time, 29 hours or less, to avoid the requirement to provide medical insurance altogether, or pay a fine.  Private Sector Unions finally figured out that ObamaCare screws them by making the Cadillac Plans they have fought 50 years to get will be taxed, rather than be tax free as is the case now.   Of course, the Unions are trying to get as deal from Obama; but Obamanistas have acknowledged that a special deal for the Unions would be illegal.  So now what!!

Just imagine, since more than 30 states chose not to set up State Exchanges, on October 1, people living in those states could all go on the Federal Exchange to shop rates.  Anyone want to bet that the system crashes as millions of people try to access rates on the Federal Exchange in October.  I would not want to be the IT guy in charge of that Federal Exchange because who ever that person is will be the fall guy when things come crashing down. 

Republicans in Congress will vote to defund, or delay the implementation of ObamaCare in the next few weeks.  If the President is smart, which is now questionable, he will let them do it to save his Presidency.   This train wreck is coming.   Many Americans will be negatively impacted by ObamaCare.   It is going to be ugly. 

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