Top Corporations Announce They Will Likely Give Up Health Care Coverage
Posted by Jim Hoft on Thursday, May 6, 2010, 11:47 AM
Since his 2008 campaign Barack Obama repeatedly promised Americans that they would not lose their current coverage or be forced to switch plans under his health care plan.
Obama was determined to pass his colossal government plan despite the fact that 80% of Americans were satisfied with their current plan.
But, once again, this was not true.
Already, several of the top US Corporations are considering dropping their employee coverage. It will save them money in the long run and their employees will be dumped into the government’s rationed health care plan.
The Examiner reported, via FOX Nation:
In a stunning revelation Wednesday, several top U.S. corporations are seriously considering dropping employee health insurance coverage in light of what they see as the inevitable consequence of ObamaCare–skyrocketing costs.
The companies state that after their legal experts poured over the thousands of pages in the new law, it will cost them less to pay the fines for not providing healthcare coverage for employees than continuing to provide employer-paid health insurance benefits.
As a side-note to the announcement, the companies maintain that ObamaCare will result in a dramatic increase in expenses for providing employee coverage, with added costs skyrocketing to multi-billions of dollars.
According to Business Record:
Additionally, the penalties to businesses for not offering coverage are less expensive than the cost of providing insurance, she said. “But for those that aren’t providing coverage now, this is a huge burden to them. And for employers that have a lot of employees working 30 hours (the threshold to be considered full- ime), you may have a lot of businesses cutting them back to 29 hours.”
Business Record maintains that despite this fact most companies will probably try to continue to provide coverage.But a report issued today in Fortune Magazine and reported by CNN indicates that the dire warnings of ObamaCare critics concerning the consequences of approving the costly legislation are in fact well-founded.
The report points to internal documents from AT&T, Verizon, John Deere, and several other large corporations which show that executives are, in fact, looking at the option of dropping healthcare coverage for employees due to what they are sure will be unsustainable increases in costs. These costs will be so prohibitive that it would benefit the corporations to pay the government fines instead
Of course, the fact that Obama was dishonest about this surprises no one.
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Published May 24, 2012 at 8:46 pm - 87 Comments
John Gargano commented:
The President is a charlatan. When will people wake up and start using the correct terminology to describe him?
Tammy commented:
This was the plan all along.
Why would a company pay for insurance when the fines are cheaper?
DUH.
The left wants everyone to be beholding to the Government. They knew exactly what they were doing when they wrote this bill.
Wake up, America!
Tepes commented:
“I won’t take away your coverage,but those mean corporations you work for will take it away” -0
aprilnovember811 commented:
I know this is off topic, but please pass this around, thank you.http://americangrandjury.org/murder-of-attorney-hemenways-son-in-virginia-same-atty-who-represents-ltc-lakin
Attorney representing Lt. Col Terry Lakin
Son is murdered in VA
Kevin P commented:
November may be too late – I was concerned about that. Once these companies have the mindset of dropping it – what will it take to get them to keep it?
Chaos – the best friend of those who hate liberty.
bill-tb commented:
WOW, this was unexpected.
aprilnovember811 commented:
americangrandjury.org
Second article down
Just_Saying commented:
“Of course, the fact that Obama was dishonest about this surprises no one.”
So, honestly, when has Obummer ever said anything that wasn’t a lie?
(BTW, if conservatives ever get enough strength to repeal the healthcare monstrosity, how long will it take all those who drop their employees’ healthcare to re-institute it, if ever??”)
.
sjs commented:
Oh, just got the ol’ time machine workin’.I’m not going back to warn people. That never works. See you in two!
Melvin Winter commented:
Democrats to Require Individuals to Buy “D’oh!bama” Insurance to Cover Losses Resulting from Flaws in ObamaCare Law http://optoons.blogspot.com/2010/03/democrats-to-require-individuals-to-buy.html
Opus #6 commented:
This is exactly why I fought so hard against Obamacare. Sure we can elect conservatives in November. Maybe we can defund Obamacare and repeal it after 2012. But by then the dismantling of the best health care system in the world will be well underway. This is our punishment for believing a slick-talking charlatan. And not looking at his prior actions. If voters had ignored Obama’s words and looked at his past actions, all of this could have been predicted. Our national naivete will not be our undoing, Americans are more resilient than this. But we will suffer. It has begun.
Dell commented:
Pretty much as planned, boys and girls. It’s the low road to a single-payer plan which was the goal all along. When – as expected – those nasty big companies take away your insurance (because it’s extremely cost effective to do so) the only way out is single-payer.
We are sooooo screwed.
Kevin P commented:
Exactly why Joe Buffoon Biden said “This is a big F###ing deal!”
Yeah – depends on which side of the F you’re on. And boys and girls – we ain’t on the good side of this F’in.
olm commented:
Actually, this was exactly what i (and many others) thought would happen. They don’t need thoudsands of pages and 10 years to get to single payer. We’ll be there really soon.
Betsy Ross commented:
You see, it’s not king barry that’s taking away people’s health care plan, it’s the evil, money-grubbing, selfish corporations that’s taking away the people’s health care plan…
geez…..come on, king barry….how lame-@ss do you think we are out here?
Do you really think that we don’t get it….that we can’t put 2 and 2 together and figure out that it’s YOU that is the problem…..
STOP blaming everyone but yourself…
Kevin P commented:
Opus #6 – #12 – you are soooo right – but I sure wish you were wrong.
That’s why we fought so hard, and why the MSM fought so hard against us. EVERYTHING conservatives said about this bill was true – and EVERYTHING conservatives said was vilified by the MSM.
DOHBowMao
Kevin P commented:
I think the Incans were off by 4 years – 2008 was the end of the world (as we know it), not 2012.
eaglewingz08 commented:
Countdown to when Rep Conyers and Barney Frank haul these companies to an inquisition for their consideration of dropping employees from their health care plans. Countdown to Obama’s lackeys calling these companies racist and unamerican. Countdown to November.
shibumi commented:
What a shocker. Everyone I know who is covered by their employer didn’t really care about Obamacare because it wouldn’t ever effect them. Well guess what? They will probably be impacted more than those of us who already pay for our own insurance.
Big Mo commented:
Say, since the House of Reps is the people’s House, I vote that we drop Congress’ sweatheart deal coverage, revoke their pensions and cut their salaries to $1 a day.
Sandy commented:
shibumi — Guess what — we will all be impacted by this administration who wants to thin the herd of those of us who are older or who have pre-existing conditions. They can keep so much more money in their stash if they just get rid of those on Social Security and Medicare. Plus Obama will have a new base made up of illegals. Its a lose lose for those of us who worked hard and played by the rules.
Atlanta Media Guy commented:
Bwaaa ha ha ha ha ha ha ha…. Obama is laughing is Ohole off right now! This was his plan all along!
I don’t think you’re going to see corporations pulled in at all. Waxman saw the documents the corporations were going to bring to his dog and pony show and realized, “I better not do this… it will expose us!” Mr Waxman you have been exposed for too long, your nostrils are too big not to be exposed to this snot rag of a bill you guys snuck through in the dark of night.
This will not be repealed, nothing of this magnitude ever is. De-funding is our only hope.
Elections have consequences.. Remember November!
WSG commented:
And the successes just keep piling up.
Sandy from Chesterfield commented:
In July 2010 my insurance is going up $300 a month for two people and they are discontinuing dental and life insurance benefits. Thank you obama for your great health care plan.
avery commented:
S.E.U.I. leadership has stolen the money from their pension plan,so they going to dump their member on this, that why andy stein has drop out of the picture a very rich man.
avery commented:
No# 26 above misspell S.E.U.I.
Carolynn commented:
My family owns a small business and the penalty is 8% of that individuals salary. If you have a high salried employee it is not less expensive to drop them.
The other problem is that since there is no exchanges set up for 4 years they have no where to get Obamacare.
Finally, as a business owner you are not going to drop health coverage on people who provide vital inputs/outputs to your business. They will leave you and you will not be able to hire a high level person with out offering them health coverage — they will find a company that will.
Nahanni commented:
Carolynn,
Uh huh….
In these days and times only a fool leaves a job over benefits unless they have a better one to go to and those are few and far between.
Also, you are a “small business owner”, you should understand that your situation in no way is similar to a company that has 50,000 employees. It is not cost effective for them to offer their current benefits because they and the employees will be getting taxed because it is deemed “Cadillac coverage” by the Obamao regime. Couple that with the MASSIVE increase in paperwork they are going to submit to the regime per employee and it is more cost effective for them to drop coverage altogether.
Gnarly Steve commented:
So the mask is slowly falling away. This is only one more reason why, whenever I see an elderly white couple driving along with an Obama bumper sticker, I want to run them off the road and spray paint “ANOTHER USEFUL IDIOT” over it.