Obamacare | The Government's Takeover of Health Care
Obamacare Raising Costs for Large Companies
Created on Thursday, 29 May 2014 08:27
Written by Justin Credible
If you like your health care plan, you can keep it, promised President Obama. That couldn't be farther from the truth. In a new research study, by 2020, 90% of Americans who get health insurance from large companies will instead get it through Obamacare. Why? The costs are simply too much for those evil corporations. As the string gets pulled further, Obamacare is unraveling in the eyes of the public. Costs are rising and quality of care is dropping, showing just how destructive Obamacare is.
Employer-provided health insurance may not be long for this world. According to a new report from S&P Capital IQ, 90 percent of American workers who receive health insurance from large companies will instead get coverage through Obamacare’s exchanges by 2020.
For that, patients — many of whom no doubt like the insurance they currently have — can blame Obamacare. The law’s many mandates, fees, and taxes will increase health costs for large employers to the point that providing health benefits at work is financially unsustainable.
Consider some of Obamacare’s most burdensome new levies. For instance, one fee on group plan sponsors is intended to fund the Patient Centered Outcomes Research Institute (PCORI), a government-sponsored organization charged with investigating the relative effectiveness of various medical treatments. Medicare may consider the Institute’s research in the determining what sorts of therapies it will cover.
Set aside the fact that the government — as paymaster for half of the health care delivered in this country — will have a significant incentive to twist the findings of such research so that older, cheaper therapies seem just as effective as more expensive, cutting-edge ones.
Making matters worse, the federal government is forcing private firms to underwrite its dirty work. For plan years ending after September 30, 2013, and before October 1, 2014, employer sponsors must pay the feds a PCORI fee of $2 per covered life. And for plan years between October 1, 2014, and October 1, 2019, they’ll have to pay an amount adjusted for national health inflation.
Large employers also have to pay a Temporary Reinsurance Fee to help “stabilize” premiums in the individual insurance market. In an American Health Policy Institute (AHPI) survey of businesses with more than 10,000 employees, one company estimated that this fee could cost it $15.3 million from 2014 to 2016.
The trick for Democrats has been to hide the truth and reality. Reports like this get discredited by the elite media because they don't fit the Obamacare narrative. With Obamacare costing employers a helluva lot of money, why wouldn't they dump their plans, putting employees in the Obamacare exchanges? The fines cost less money! And that's been one of the liberal goals all along.
Justin Credible is a contributing editor for Habledash.