Posted on 08/13/2013 12:11:58 PM PDT by SeekAndFind
The delay in implementation of ObamaCare's employer fines won't keep them from growing between now and when they finally hit in 2015.
Each year, the fines will grow in line with the growth in average per-person health insurance premiums relative to 2013.
Here's the problem: Average wages generally grow slower than health premiums, and the wages of low-income workers lag average wage growth. That means the penalties will gradually loom larger and larger relative to wages for modest-skilled workers, giving employers a bigger incentive to cut them to part-time.
Even if health premiums grow at an average 3.5% annual rate — very low by historical standards — the bite of the employer mandate may become increasingly painful. By 2020, the $2,000-per-worker penalty for employers who don't cover the bulk of full-time workers would rise to $2,430.
A Growing Burden
The $3,000 penalty faced by employers who do offer coverage when a worker accesses ObamaCare subsidies would rise to $3,650 by 2020.
For an employer facing a 40% federal and state tax rate, the initial $3,000 nondeductible penalty equates to $5,000, potentially adding $2.40 an hour to a full-time worker's compensation.
The $3,650 penalty in 2020 would equal $6,080 in deductible wages, or $2.90 an hour for a full-timer. Last month, the White House said it wouldn't enforce the mandate in 2014, but it doesn't have authority to alter the inflation adjustment written in law. Department of Health and Human Services Secretary Kathleen Sebelius must announce by Oct. 1, 2014, what the increase will be for 2015.
(Excerpt) Read more at news.investors.com ...
What are they talking about? He didn't have the authority to delay the implementation of any part of the law. It was suppose to go through Congress. Legally, the law has to be changed and not by Executive Order.
Now THIS would just take the cake...
Tell the companies you will not enforce the employer mandate but STILL fine them a year later for non-compliance??
That would take some might big brass balls...
RE: That would take some might big brass balls...
Yes, but by that time the 2014 elections will be over... and as for Obama, what does he care? As he said to Medvedev: “This is my last election.”
Medicare was $3 a month when it started. It’s now over $100 and with less benefits.
Did you see this? Looks like members of the middle class might lose everything in a bad medical situation. And yeah, it’s ‘bait and switch’...
Sebelius: ‘This Is Not A Bait-And-Switch’
RE: Medicare was $3 a month when it started. It’s now over $100 and with less benefits.
Medicare started in 1965. If as you say, it started at $3.00/month then, This inflation calculator:
http://www.usinflationcalculator.com/
Tells us that it should be just $22.24/month today.
I can assure you, I don't make $100 and hour now and they're simply robbing EVERYONE on SS who has to pay the $105 out of their SS check.
The worst part is that this will cripple young people from entering the job market, and it won’t give older people the care that they need (partially because it makes care so expensive).
So we’ll get the worst of both worlds, terrible and expensive health care, anemic to non-existent economic growth.
You’ll see granny flying to India to get her hip replacement.
Maximum Leader has all the authority in the world unless he is stopped. Congress isn't stopping him, the courts aren't stopping him, the people aren't surrounding the White House with torches and pitchforks. Obama is going to go further and further in the next three years and Boehner and McConnell and their lieutenants are not up to the job of trying to stop him.
I spent money I didn’t have going to DC 4 years ago with about a million other patriots, but it didn’t do anything to change the collision course we are on. Bottom line is....they don’t effing care what we think. Maybe when the money tree dries up they’ll notice us, but until then we are invisible peons to them.
At least we’ll be able to watch the dumb looks on obama worshippers’ faces when they get the bill. If I ever here a liberal complain I may just slap them.
There's ropes and trees/lampposts calling out for politicians and bureaucrats: a couple of them getting their wish and they will care intensely, one way or the other.
If this would truly happen to just one tenth of
congress life would change. Either they would clamp down via the police state. Or they woulddo the will of the people constitutionally.Revolution is ALWAYS ugly and our forefathers died in large numbers but we have to do something serious to get their attention. Freedom is worth dying for and we owe it to our children.
Don’t count on them doing what is right.
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.