Wednesday, November 20, 2013

BIG F***IN' DEAL, INDEED: Only 100 million more Americans to lose their health insurance next year

I wasn't a math major in college, but canceling the insurance plans of 140 million Americans to make sure 9 million other Americans are covered seems rather, eh, counter-intuitive.

A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.

The next round of cancellations and premium hikes is expected to hit employees, particularly of small businesses. While the administration has tried to downplay the cancellation notices hitting policyholders on the individual market by noting they represent a relatively small fraction of the population, the swath of people who will be affected by the shakeup in employer-sponsored coverage will be much broader.

...half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predict up to 100 million small and large business policies could be canceled next year.

...Under the health care law, businesses with fewer than 50 workers do not have to provide health coverage. But if they do, the policies will still have to meet the benefit standards set by ObamaCare.

...For workers, their experience could mirror that of the 5 million or so on the individual market who already received cancellation notices because their plans did not meet new standards under the Affordable Care Act.

President Obama announced last week that insurance companies could offer out-of-compliance plans for another year. But that only means the cancellation notices will resume late next year.

...The business community has already been hit with another side effect from ObamaCare. Because the law will require businesses with more than 50 full-time workers to offer health coverage, there are reports that companies are shifting employees to part-time status to avoid hitting the threshold... A survey showed 31 percent of franchise businesses, and 12 percent of non-franchise businesses, have already reduced worker hours. It also showed 27 percent of franchise businesses, and 12 percent of non-franchise businesses, have replaced full-time workers with part-time employees.

I wonder what the Leni Riefenstahl of the Obama administration -- Taegan Goddard -- has to say about this?

Hat tip: BadBlue News.


Anonymous said...

The fact that O doesn't seem to care about the fallout leads me to believe they are taking over in 2014. 2016 at the latest.

Anonymous said...

It's not the worse part. Wait till all of you see the standards of care go down.

I am full disabled for LIFE. Sadly I know what I'm typing about.