Posted on 11/19/2013 6:31:34 PM PST by 2ndDivisionVet
The chief executive of Abbott Laboratories warned Tuesday that he expects more corporations to drop employee health care insurance as a result of the health care law and some of the taxes it levies over the next five years.
Miles White, an influential health care executive who has led the Lake County-based medical products giant for 15 years, said there are clear incentives for companies to drop their health care plans and move people onto the exchanges, referring to the new, online insurance marketplaces created under the Affordable Care Act where consumers can compare and purchase private health plans, often with the help of federal tax subsidies.
I can tell you that the employees of Abbott or AbbVie (the pharmaceutical firm Abbott spun off in January) are going to be pretty unhappy about that, you know, if we did that, he told members of the CFA Society of Chicago, an association of investment analysts, at a luncheon.
Companies with more than 50 full-time workers that dont provide coverage face penalties starting at $2,000 per worker in 2015, far less than the cost of providing coverage...
(Excerpt) Read more at chicagotribune.com ...
We have only just experienced the changing of individual plans. It is nothing compared to what is coming.
Just wait until corporations start dropping their employees or drastically changing benefits due to Obamacare. The numbers will be huge compared to what we just saw with individual plans. These are middle and upper class people who are the basis of opinion in this country - and they are in for a big shock.
we can see just how cynical Obama was to extend the employer mandate through 2014, but there will be hell to pay after that.
We have seen the earthquake, but the Tsunami has yet to hit.
Mr. White is clearly RACIST!!
No matter what happens to us proles, he'll still be living large.
The company I work for is pretty thoughtful of its employees, so for them to consider doing this shows me that it is going to become a real trend.
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