Obamacare may cost small business as much as 65% of their profits.
At these levels, the question that will soon occur to the business owner is “Why am I bothering?” If he can shrink his business to less than 50 employees and avoid the Obamacare costs, he will.
And in related news: Health insurers are privately warning brokers that premiums may double next year for many individuals and small businesses due to Obamacare.
A congressional report, issued by Republicans in the House and Senate, says that Obamacare will increase healthcare costs by 200 percent.
Though the report is partisan, it is worth reading because of the depth of the analysis as well as the range of its historical research. For example:
The report notes that a number of states have already imposed requirements on health coverage and the result has been fewer choices and higher premiums. In New York, for example, a 30-year-old male paid an average of $1,200 a year in annual premiums in 1993, but one month after the state passed Obamacare-like reforms, premiums soared to $3,240. At the time Washington state passed similar reforms, 19 insurance carriers wrote policies for state residents. Within six years, only two carriers remained in the state.
I was living in New York when the state legislature passed this early version of Obamacare and can attest to truth of the above facts. Costs doubled and insurance companies fled the state, reducing competition. I even wrote about an article about it. The evidence from these state efforts illustrates the likelihood that Obamacare will do the same, nationwide.
According to a federal report, businesses nationwide remain reluctant to hire because of Obamacare.
Earlier this month, the Fed released its latest “beige book” – a monthly report on economic conditions across the country. The book noted that employers across the country have “cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff.”
And it is only going to get worse. Read the whole article. The new taxes imposed by Obamacare are going to crush the healthcare industry.
A federal judge has ruled against the Obamacare contraceptive mandate imposed by the Obama administration on private businesses.
The top ten organizations slashing jobs and hours in order to deal with Obamacare.
And we’ve only just begun!
Physicians fight back against Obamacare.
Dr. Ryan Neuhofel, 31, offers a rare glimpse at what it would be like to go to the doctor without massive government interference in health care. Dr. Neuhofel, based in the college town of Lawrence, Kansas, charges for his services according to an online price list that’s as straightforward as a restaurant menu. A drained abscess runs $30, a pap smear, $40, a 30-minute house call, $100. Strep cultures, glucose tolerance tests, and pregnancy tests are on the house. Neuhofel doesn’t accept insurance. He even barters on occasion with cash-strapped locals. One patient pays with fresh eggs and another with homemade cheese and goat’s milk. “Direct primary care,” which is the industry term for Neuhofel’s business model, does away with the bureaucratic hassle of insurance, which translates into much lower prices. “What people don’t realize is that most doctors employ an army of people for coding, billing, and gathering payment,” says Neuhofel. “That means you have to charge $200 to remove an ingrown toenail.” Neuhofel charges $50.
Neuhofel is not alone in this. The article describes other doctors who have done the same. As the bureaucratic mess from Obamacare expands and becomes increasingly impossible for anyone to handle, we are going to see this happen more and more.
Finding out what’s in it: New Obamacare regulations produce a stack of regulations seven feet high.
And then there’s this: The burger chain Five Guys plans to raise the price of burgers and hot dogs in order to pay for Obamacare.
According to conservatives sources in the House, it was the Republican leadership that killed a measure to defund Obamacare.
With friends like these, who needs enemies?
Surprise, surprise! The Federal Reserve reports that Obamacare is causing layoffs and a slowdown in hiring.
Finding out what’s in it: The CEO of a major health insurance company warned that rates will likely go up 20% to 100% next year because of Obamacare.
Finding out what’s in it: A new poll finds that support for Obamacare continues to drop.
Another chance at killing Obamacare in the Supreme Court?
Finding out what’s in it: The Obama administration today released more than 700 pages of new regulations to implement parts of Obamacare.
Won’t it be nice to have to deal with the equivalent of the Motor Vehicle Administration whenever you have to see your doctor in the future?
To me, the most irritating thing about this might not be the law itself, but having to hear people who voted for Obama complain about it. And they will complain. Everyone will. I guarantee it.
Finding out what’s in it: Because of the cost of Obamacare, employers are dropping healthcare coverage for spouses.
By denying coverage to spouses, employers not only save the annual premiums, but also the new fees that went into effect as part of the Affordable Care Act. This year, companies have to pay $1 or $2 “per life” covered on their plans, a sum that jumps to $65 in 2014. And health law guidelines proposed recently mandate coverage of employees’ dependent children (up to age 26), but husbands and wives are optional.
Not fit to print: Two days ago the Congressional Budget Office increased its projection for the cost of Obamacare by 29 percent, while also saying that seven million workers will lose their health insurance due to the law, almost twice as many as previously estimated.
As noted at the link, not one news organization has seen fit to mention this juicy tidbit in their news reports. I wonder why?
Meanwhile, we will go bankrupt. This law, and the government that is imposing it on us, is unsustainable.
I wonder why: The newly released “ObamaCare Survival Guide” has rocketed to the No. 2 spot on The New York Times’ bestseller list for advice-giving paperbacks.
It is also No. 1 on many amazon.com lists. This quick demand only indicates once again how bad this law is, requiring people to desperately search for ways to deal with it. Sadly, its negative impact on business and healthcare in the coming years is going to continue.
Update: And in related news, Virginia’s state liquor organization is limiting the hours of all part-time workers to avoid the costs of Obamacare.
According to the Congressional Budget Office, seven million people — twice the number previously predicted — will lose their health insurance under Obamacare.
Finding out what’s in it: Electronic medical records — required by Obamacare — are costing doctors time while taking them away from their patients.
Probably the biggest problem with electronic records is simply that it requires the physician to input all notes and orders, rather than dictate them. As a result, as my bride puts it, “they’ve taken the highest paid person in the department and turned him/her into a data entry clerk”. On average, she and her colleagues spend more time per patient wading through drop-down menus, clicking boxes and filling in required but utterly irrelevant information than they do at the bedside, actually treating the patient. In short, it’s her experience that they see fewer patients per shift than they did previously, and spend less time with each one, now that they are required to sit down at a computer after seeing each patient and jumping through hoops to place orders instead of, as previously, simply telling the nurse what is needed and then moving on to the next patient. [emphasis mine]
Have you noticed in your recent visits to the doctor how the doctor seems to be spending his entire visit with you staring at his laptop, typing continuously as you talked? I have. Say goodbye to simplicity in the medical field. The future shall be complex bureaucracy and less medical treatment.
