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Wednesday, November 14, 2012

Beware: ObamaCare’s now reality (and will cost employers $1.79/hr per FT employee)

Read the whole thing:

President Obama’s re-election and Democratic gains in the US Senate end any possibility of repealing the Obama health law. It will roll out as written, imposing major changes soon on you and your family. If you are uninsured because you can’t afford it, help may be on the way. But if you are one of the 250 million Americans with coverage, there are big problems ahead.

If you get your health insurance through a job, you might lose it as of Jan. 1, 2014. That’s when the new “employer mandate” kicks in, requiring employers with 50 or more full-time workers to provide the government-designed health plan or pay a fine. The government plan is so expensive, it adds $1.79 per hour to the cost of a full-time employee. That’s incidental if you're hiring neurosurgeons but a hefty increase for hiring busboys and sales clerks.

Currently, employers in retail and fast-food industries pay less than half that to cover their workers.To avoid thecostly mandate,some employers will push workers into part-time status. Other employers will opt for the fine. Either way, workers lose their on-the-job coverage.

Worse, they risk losing their jobs.Even the fine adds 98 cents an hour to the cost of labor, enough to make some employers cut back on their workforce.

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