Skip to comments.Fed Register/Vol. 75, No. 116/Thu, June 17, 2010/ 34553 (10s of millions will lose empl insurance)
Posted on 11/07/2013 8:44:02 AM PST by Chgogal
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TABLE 3ESTIMATES OF THE CUMULATIVE PERCENTAGE OF EMPLOYER PLANS RELINQUISHING THEIR GRANDFATHERED STATUS, 20112013
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"Under this assumption, the Departments mid-range estimate is that 66 percent of small employer plans and 45 percent of large employer plans will relinquish their grandfather status by the end of 2013. The low-end estimates are for 49 percent and 34 percent of small and large employer plans, respectively, to have relinquished grandfather status, and the high-end estimates are 80 percent and 64 percent, respectively."
(Excerpt) Read more at webapps.dol.gov ...
I suspect Obama will do something to mitigate the political impact,, perhaps extending the employer mandate further.
It looks like Obama screwed the middle class big time. This is a huge income redistribution scam.
Obama and Sillybus already wrote up and slipped in some new rules for the Unions a few days ago.
According to Justin Wilson who was on Megyn Kelly last night, Unions would get the same subsidies like those in the individual insurance exchange. It is estimated to cost $600 million that the unions will not be charged.
The government subsidies will continue for those using the exchanges. The delaying of the employer mandate no doubt costs the government revenue. I have read it could be as much as over $30 billion a year.
IMO business would like to get out of offering healthcare as an employee benefit. They would prefer paying the fines, which would be far cheaper. There will be tens of millions affected as employers force their employees into the exchanges. No doubt, Obama delayed the employer mandate because he knew that the exchanges would not be ready to handle that volume. It will be interesting to see how he finesses the employer mandate so as to lessen the political impact prior to the 2014 midterms.
It will cost tax payers on the front end (paying for their own health care) and on the back end increased taxes to cut the deficit, which in the long run stymies private sector growth mostly fueled by consumer spending. The good news, this is deflationary not inflationary.
In the hearing on Nov 6, 2013, John Thune mentioned a press conference on June 14, 2010 in which Sebelius talked about the grandfather clause.
Thune’s question: did you read the regulation?
Sebelius: Yes I did [read it]
Thune: how can you say this regulation will keep the president’s promise?
Sebelius: long winded version of her perspective
Thune: Doesn’t it knowingly violate the promise?
here is the video from the hearing
Thune states at 1:17 in the video
On June 14, 2010 Sebelius held press conference regarding the grandfather rule.
Thune at Finance to Sebelius: Youve Been Misleading the American People
Now watch this video of the press conference from June 14, 2010 which is very revealing!
Health Reform: Grandfathering Your Current Insurance Plan (06/14/2010 Press Conference)
Agree. The story that is not written about is the loss in consumer discretionary spending as more money is sucked in by the insurance companies and the government rather than using the money for private sector goods and services as well as savings and investment. This will have many unintended consequences on the economy, including job creation.
“”The only silver lining is that we will get our notices at the beginning of October, 2014 right before the November Elections.””
You should know by now that he will finagle everything to make sure this isn’t a problem before the elections on November 2014...
The man is a magician! The man is a hooligan! The man is a disaster! The man is a phony! The man is a carnival barker! The man is a charlatan! There has to be more but I’ve already spent way more seconds than he deserves trying to define him.
Thank you for the post. I will listen later.
Same as it is with a tourist visa --I just realized that I get an Obamacare waiver when I visit Panama.
Something else that just occurred to me is that w/ medical tourism being so big that Panamanian doctors and dentists ought to park a Panamanian flagged hospital ship off the 3 mile limit to be just outside of U.S. tort liability jurisdiction. They'd make a fortune and save thousands of lives.
Then the 2014 GOP candidates will run on, "Why not extend it forever"? The Democrats are sort of screwed.
Obama won by 5 million votes. If you look at the electoral college and state by state votes, it is clear to me Obama would have won regardless. Obama's vote total declined by 4.5 million compared to 2008 and the GOP increased its total by 1 million. Conservatives did not elect Obama.
And that is what the left really wanted, SCOTUS! There-by setting the tone of the republic for ... well maybe forever!
Agree with that. This country has reached a tipping point and it is due to huge demographic changes resulting from the 1965 Immigration Act. In 1970 one in 21 in this country was foreign born; today it is one in 8 the highest it has been in 90 years. And within a decade it will be one in 7 the highest in our history.
87 percent of the 1.2 million legal immigrants entering annually are minorities as defined by the U.S. Government and almost all of the illegal aliens are minorities. By 2019 half of the children 18 and under in the U.S. will be classified as minorities and by 2042, half of the residents of this country will be minorities. Generally, immigrants and minorities vote predominantly for the Democrat Party. Hence, Democrats view immigration as a never-ending source of voters that will make them the permanent majority party.
Demography is destiny. CA is the canary in the coal mine. By 2050 the demography of the US will look like CA today. Red states are turning purple, then blue. CO, NV, NM, VA, and a number of others will make it increasingly impossible for the Reps to win national elections. And Hillary will be the next President of the United States.