Monday, November 25

One more piece of data on the glory that is Obamacare

ZeroHedge is a blog by currency experts and stock market veterans about things financial.  The story below is from a Zero Hedge reader.  I've edited it a bit for readability.
My California-based company employs 600.  Before Obamacare we paid half of the health insurance premiums for about 250 of our employees. (The rest opted out, preferring to take home a bit extra and forego insurance.) 
Paying half of the health insurance premiums for the 250 employees who wanted health insurance cost us about $750,000/yr. 

Under Obamacare this cost has gone up almost three-fold, depending upon the plan.  Our cost to pay the same half of the premiums for 250 employees has risen from 750k to $2 million per year.

We're now forced by law to pay at least 91.5% of the premium--far more than the 50% we used to pay.

Even with the company paying 91.5%, our employees' share of the premium for the cheapest plan went from $7/week to $30/week.  (95% of my employees were on that plan.)  And that increase is even with my company paying 91.5%  of the premium!

Moreover, the  cheapest plan now has a deductible of...$6350!  Before Obamacare it was $150. Employees making $9 or $10/hr have to pay $30/week and have a $6350 deductible?? WTF??

None of my employees could come remotely close to covering a $6350 deductible.  So now they're paying more for lousier benefits.  How does that help them?

Pelosi infamously said we had to pass the bill to find out what's in it.   Surprise! Your unread bill has annihilated the working class.
Well obviously the company owner is a raaacist, because he doesn't believe our hard-working, honest, candid president.  The president said his law would give poor working people far, far better insurance, at an average saving of...what was it?  Oh yeah, $2,500 per family.

Clearly this guy is just a spoiled rich corporate parasite who has no idea about anything.  We need to raise his tax to 99% of his income.

Yeah, dat's it.


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