Many businesses, such as Home Depot, GE, Trader Joe’s, Walgreen, IBM, and Time Warner are just a few of the major corporations that have announced they will stop sponsoring health insurance plans, either for current employees, retired employees, or both.
As a result, these employees will have to buy insurance through the Obamacare exchanges. This will impact millions of American workers. Millions more will feel the pain of the ObamaCare mandates, as businesses of all sizes cut the number of full-time employees and cut the hours of part-time help to avoid the costly premiums ObamaCare will impose on all Employer Sponsored Insurance (ESI) plans for businesses with 50 or more employees
Even though the mandate has been delayed a year, many businesses are cutting the number of full-time employees and cut the hours of part-time help to avoid the costly premiums ObamaCare will impose on all Employer Sponsored Insurance (ESI) plans for businesses with 50 or more employees.
This will avoid actions from the government later.
It is estimated that between 14 and 16 million will soon lose the coverage they now have. And, contrary to the promise of President Obama, Nancy Pelosi, and other champions of the ACA, replacement policies under ObamaCare are proving to be much higher in price and to include even bigger out-of-pocket deductibles.
“The Looming Premium Rate Shock,” which was released in May, provides stunning information on the expected premium hikes that will be caused by implementation of the ACA. According to the committee’s findings, “consumers purchasing health insurance on the individual market may face premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent.” Meanwhile, “small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.” These are just a few of the grim realities mentioned in the report.
Well people, you voted Democrat, now it’s payback time.