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Abbott's White: Employers to scrap health plans under Obamacare
The Chicago Tribune ^ | November 19, 2013 | Peter Frost

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 don’t 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 ...


TOPICS: Business/Economy; Culture/Society; Government
KEYWORDS: economy; insurance; obama; obamacare
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More shoes dropping than a centipede going to bed.
1 posted on 11/19/2013 6:31:34 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet
Repeal the monstrosity !
2 posted on 11/19/2013 6:33:54 PM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: 2ndDivisionVet

This will be the hydrogen bomb that explodes on Obamacare. We’re looking at 50-100 million people losing their current plan. Many of those are young and healthy, and guess what kind of deal the young and healthy get on an exchange?


3 posted on 11/19/2013 6:38:04 PM PST by BlueStateRightist (Government is best which governs least.)
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To: 2ndDivisionVet

The individual mandate is like a preseason game. The employer mandate is the Super Bowl. Obamacare hasn’t even begun to reveal its awfulness.


4 posted on 11/19/2013 6:38:47 PM PST by cdcdawg (Be seeing you...)
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To: 2ndDivisionVet
You think it is bad now? Ha. "Only" a little over 1 million people have received policy cancellation notices. There are another 15 million individual policies at risk of cancellation as they come up for renewal (and don't qualify as obamacare compliant). But the real fun won't start until next year when the employer mandate hits - then 60 million more policies are at risk.

Kill it now. It is long past time to simply scrap 100% of obamacare and go for some real reforms.

5 posted on 11/19/2013 6:40:34 PM PST by ThunderSleeps (Stop obarma now! Stop the hussein - insane agenda!)
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To: BlueStateRightist

But at least the poor will have coverage! (bh0 promised us that and so did princess Pelosi!) Death to the bourgeoisie scum! (whoops, French Revolution, not ‘transforming Amerika’ propaganda.)

(the above is sarcasm.)


6 posted on 11/19/2013 6:41:44 PM PST by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: 2ndDivisionVet

I can see the headline in the A.M. papers.

“White employers to scrap health plans under Obamacare.”

Let the racism charges commence.


7 posted on 11/19/2013 6:44:59 PM PST by lastchance ("Nisi credideritis, non intelligetis" St. Augustine)
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To: 2ndDivisionVet

This will take $300-$400 of spendable income away from the working family. Net result: a poorer American working class. The LIV takers won’t care since they will be getting free insurance and medical care.

Are there more of them(takers) than us(working class Americans)? That is the question.


8 posted on 11/19/2013 6:45:18 PM PST by The_Media_never_lie (Actually, they lie when it suits them! The crooked MS media must be defeated any way it can be done!)
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To: 2ndDivisionVet

Is there no other way to buy insurance other than Obama’s exchange?

I am not about to go to that website and lay my Identity open to theft. I will buy insurance elsewhere.


9 posted on 11/19/2013 6:47:07 PM PST by Venturer (Keep Obama and you aint seen nothing yet.)
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To: Eric in the Ozarks

It needs repealed but much damage has already been done. It will take a long time to stuff the genie back in the bottle IF it is repealed and even IF something good actually replaces it.


10 posted on 11/19/2013 6:51:16 PM PST by Sequoyah101
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To: ThunderSleeps

We might want to start a thread regarding this. I’ve heard rumors Fidelity in Boston is looking at doing this.


11 posted on 11/19/2013 6:53:19 PM PST by MSF BU (n)
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To: All; Venturer

No, as I understand it, unless you have an already approved plan or system (VA, Medicare, Medicaid) you must enroll through the ACA exchanges. Anyone here know more?


12 posted on 11/19/2013 6:53:46 PM PST by 2ndDivisionVet ("Of the 4 wars in my lifetime none came about because the US was too strong." Reagan)
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To: 2ndDivisionVet

I’m not enrolling into anything next year! F this government!!!


13 posted on 11/19/2013 7:00:46 PM PST by Extremely Extreme Extremist (Governor Sarah Heath Palin for President of the United States in 2016)
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To: The_Media_never_lie

>>This will take $300-$400 of spendable income away from the working >>family.
Because 80% of our economy is consumer based, this will cause a domino
effect, which is exactly what 0 had intended. Never let a crisis go to waste,
Even if it is one u caused.


14 posted on 11/19/2013 7:04:33 PM PST by jonose
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To: Venturer
I believe you can go to the insurance company websites. However, you can't get a subsidy there.

(I believe we qualify for a subsidy but I don't want to go that route. We are self-employed and refuse to get on the Gov't dole,)

15 posted on 11/19/2013 7:06:53 PM PST by what's up
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To: 2ndDivisionVet

Our HR director had this same talk with us. Cheaper to send us to the exchange and pay the penalty. If our peers start doing it and they don’t have to offer private health plans to retain talent, that’s what is going to happen.


16 posted on 11/19/2013 7:16:22 PM PST by Mannaggia l'America
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To: 2ndDivisionVet

So what’s got into the ChiTrib lately? Just a couple of days ago they ran an editorial recommending complete repeal of KommieKare.


17 posted on 11/19/2013 7:47:29 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Venturer

“Is there no other way to buy insurance other than Obama’s exchange?”

You can buy direct from the exchange providers for your state. Supposedly you can go to healthsherpa.org to see what the plans are and what they cost.

The current disadvantage of direct purchase is that if you’re eligible for a subsidy, they can’t give it to you. But don’t worry, Obama is working on fixing that (he says sardonically).


18 posted on 11/19/2013 7:51:46 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: 2ndDivisionVet

You can buy direct from the exchange providers for your state. Supposedly you can go to healthsherpa.org to see what the plans are and what they cost.

The current disadvantage of direct purchase is that if you’re eligible for a subsidy, they can’t give it to you. But don’t worry, Obama is working on fixing that (he says sardonically).


19 posted on 11/19/2013 7:52:51 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Mannaggia l'America

This is exactly what my husband’s company is doing - we already received our cancelation notice in Sept and we have to meet on Dec 2nd for a Health Insurance meeting where “ACA Navigators will be on hand to assist us” meaning we are getting dumped into the system. His company is a POS so this was expected - they are most likely going to pay the penalty and we will be left to fend for ourselves in the black hole of Obamacare.


20 posted on 11/19/2013 7:52:54 PM PST by MissH
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