How much more ammunition does the mainstream media need to report honestly on the disaster Obamacare is?
Worried about losing your job like millions of other Americans?
If you’re not, you may be when you get the full picture on Obamacare. Oh, the screaming advocates of the Patient Protection and Affordable Care Act tell you not to worry, but those remaining impartial will tell you hundreds of thousands of jobs are indeed at risk.
For instance, medical device companies are in the process of slashing jobs precisely because of the Affordable Care Act. That would include Abbott Labs. The pink slips began a few years back that included 1,900 jobs.
Pricing Pressures Resulting From Obamacare
Largely due to the new fees and pricing pressures resulting from the Obamacare.
Company executives blamed the 2.3% medical device tax included in Obamacare as the reason for eliminating 5% of its workforce. That’s 1,900 employees and counting. Again, the company saw what was coming over a year ago.
Where’s the mainstream media to report this?
Other medical device companies have possible employee cuts being readied as the Affordable Care Act is fully implemented (at least for now) in January, 2014.
The only hope for other medical device companies lies in the aisles of Congress. There seems to be some sort of momentum on both sides to either repeal or modify this particular component of Obamacare.
Remember, it has now been three full years since the law was passed at midnight by the Senate.
Small businesses realize that if they carry over 50 full-time workers, they must provide health care coverage for those employees beginning in January, 2014. Those extra costs are making for tough decisions across small business America.
Penalties are Less Expensive Than Insurance
Small businesses can pay a $2,000-per-employee penalty for each worker over a 30-employee level. That will work for some employers since the penalties at this point are less expensive than paying the insurance.
Look for the Obama administration to close that loophole soon.
Employers with, say 54 employees, could cut five and get under the 50 employee rule. Another alternative that businesses could take is to keep employees but reduce their hours to less than 30 per week so that the workers won’t be counted as full-time.
It should be remembered that that less than half of small business with fewer than 100 employees offer benefits to their employees currently.
Companies or employers with around 50 employees don’t have to provide health coverage unless the temporary worker is employed on a full-time basis for at least 12 months.
The Urban Institute
Another enticing option is to regroup overseas, as in China.
The Urban Institute (whoever they are) insist Obamacare won’t cost jobs. But in the real world, the reality appears to be otherwise. Moody’s Mark Zandi, says that the sluggishness in employment stems largely from small businesses not hiring because of the Patient Protection and Affordable Care Act.
Isn’t it about time to come off the political campaigning and actually explain this 2300 page law to the common American before the country lapses into utter chaos?