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      07-05-2012, 02:25 PM   #26

Drives: 330ci ZHP
Join Date: Jan 2007
Location: VA

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Originally Posted by txz4 View Post

Here is my take (from an earlier thread):

So anyone here know how this will work? let me spell it out:

If you are an employer with 50 or more employees, you will either have to provide health care OR pay a tax of $2000 for every (full time equivalent) employee you have in excess of 30.

It gets better. A full time employee under this law is an employee that works 29 or more hours a week. No problem, just hire part timers below 29. NOPE. You take all of your part time employees, add the hours, and divide by 30. If this works out to 29 or more, then you have to pay healthcare cost or penalty.

IF you DONT have insurance, you must pay either 1% of your yearly income or $95 whichever is more.

I was reading an article on HuffPo about small business and Obamacare, they interviewed this one business owner who said it best, something along the lines of: "If you have 60 employees, you have to downsize to 49. If you have 49 you dont hire...." Needless to say, my company will be doing something very similar out of necessity... This recession has hurt many businesses and pushed us to work harder and harder for less then we used to make, this is going to push us over the edge unless we prepare accordingly.
-You didn't mention anything about the healthcare tax credit for small businesses.

-You didn't mention anything about the creation of required state-based exchanges to offer affordable coverage that will start in 2014 that will help small businesses by pooling their money together to get better rates. This is key because small businesses don't have the leverage or purchasing power that big business do who offer health insurance at a much lower cost to them. This will change that.

PLUS the bill doesn't state what type of health insurance you have to provide. For all they care, you could offer the absolute cheapest healthcare insurance offered.

If companies still decide they wont offer it (bad move competitively in all reality) then employees can get it on their own at affordable rates.

You only pay the penalty if you as a person can afford to buy it on your own, but choose not to. Because let's be honest, those lowlifes will immediately buy health insurance after their sick anyway and foot us with the bill, so we might as well charge them for it now.