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Finding out what’s in it: The IRS has announced that the annual fine to businesses — even businesses with less than 50 employees — for helping employees pay their medical expenses will be a mere $36,500.
“We were told over and over during the Obamacare discussions that if you had less than 50 employees there’s no requirement to provide coverage, so you don’t have to worry about any cost factor,” said Ron Aldridge, Mississippi director for the National Federation of Independent Businesses. … If a company has five employees, the total tax would be $182,500. A “large” employer with 50 employees that did not provide insurance in compliance with the Affordable Care Act, would be subject to $2,000 per employee, with the first 30 employees exempt, for a total of $40,000, Aldridge said.
And then there’s this gem:
The Mississippi Insurance Department said: “The rule appears nowhere in the Affordable Care Act but was developed by the Obama administration’s regulation writers at the IRS.” [emphasis mine]
Not only is this IRS rule illegal, as it isn’t based on anything written in the Obamacare law, it starkly illustrates the inhumane attitude of the Obama administration and people there who wrote it. The rule demands that employers look the other way if their employees are in trouble because of medical expenses. It also surprises everyone by suddenly imposing Obamacare on all businesses, even tiny ones which had been promised they were exempt from the law.
In fact, based on the information in this article, even an independent contractor like myself could be found in violation of this rule and subject to fines.. Essentially, I am not allowed to use my profits from my business to pay for my medical costs,
In other words, this administration wants to hurt people.