Posted on 08/18/2014 4:38:25 PM PDT by Oldeconomybuyer
Many businesses said Obamacare is jacking up their employee health coverage costs, and they expect it to do so even more next year, two new surveys of businesses by the Federal Reserve Bank of New York have found.
Not all firms surveyed said the Affordable Care Act (ACA) is to blame for those cost increases to date. But a majority did.
About 20 percent of respondents to both surveys said they were reducing their number of workers and/or raising the share of part-time workers as a result of the ACA.
"A similar proportion said they were paying less compensation per worker because of the ACA, and a similar proportion said they were outsourcing more work," according to the bank's report.
(Excerpt) Read more at cnbc.com ...
No surprise there.
Totally unexpected.
This is hugh and series. I never thought it could happen. I mean Obama said this would not occur.
Not a surprise given the demographics of New York, the numbers don’t lie, even thou many of theses businesses are no doubt still in denial.
What is really funny is the last survey where more than 4 times as many businesses are dropping insurance coverage as adding it.
I wouldn’t call this sad, as generally health insurance is a inventive market force, but it is unfortunate for everyone who has so much invested already in the insurance system(having payed premiums for decades, rather than saving).
It’s like the abysmal jobless recovery, which would have been even worse without Stimulus, TARP, and Obama’s policies. Imagine how terrible health insurance prices would be if we didn’t have ObamaCare saving us $2500 a year compared to what prices would have been!
[Come on, liberals, I dare you to make that argument central to your reelection campaigns.]
Is the pretense beginning to crumble?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.