Venus
07-31-2013, 01:14 PM
http://www.reuters.com/article/2013/07/30/us-usa-healthcare-employers-idUSBRE96T1DI20130730
'Obamacare' mandate delay will cost $12 billion, affect 1 million workers
(Reuters) - President Barack Obama's decision to delay implementation of part of his healthcare reform law will cost $12 billion and leave a million fewer Americans with employer-sponsored health insurance in 2014, congressional researchers said Tuesday....
Most large employers already offer health insurance and CBO said few are expected to drop coverage because of the delay.
But the change will still result in a $10 billion reduction in penalty payments that some employers would have made in 2015 for failing to provide coverage next year, CBO said.
The change also means another $3 billion in added costs for exchange subsidies. That is because about half of the 1 million workers who would have gained employer-sponsored coverage next year will now obtain insurance through the exchanges or via public programs including Medicaid, CBO said.
Other changes, including an increase in taxable compensation resulting from fewer people enrolling in employment-based coverage, will offset those factors by about $1 billion.
CBO now puts the net cost of Obamacare's insurance coverage provisions at around $1.38 trillion over the next 10 years, vs. its May baseline projection of $1.36 trillion.
Thank you Mr. President for adding billions of dollars to this monstrosity of a law.
You can't blame the republicans for this one, Obama did this himself, by himself when he unilaterally decided to delay one of the major components of this law.
'Obamacare' mandate delay will cost $12 billion, affect 1 million workers
(Reuters) - President Barack Obama's decision to delay implementation of part of his healthcare reform law will cost $12 billion and leave a million fewer Americans with employer-sponsored health insurance in 2014, congressional researchers said Tuesday....
Most large employers already offer health insurance and CBO said few are expected to drop coverage because of the delay.
But the change will still result in a $10 billion reduction in penalty payments that some employers would have made in 2015 for failing to provide coverage next year, CBO said.
The change also means another $3 billion in added costs for exchange subsidies. That is because about half of the 1 million workers who would have gained employer-sponsored coverage next year will now obtain insurance through the exchanges or via public programs including Medicaid, CBO said.
Other changes, including an increase in taxable compensation resulting from fewer people enrolling in employment-based coverage, will offset those factors by about $1 billion.
CBO now puts the net cost of Obamacare's insurance coverage provisions at around $1.38 trillion over the next 10 years, vs. its May baseline projection of $1.36 trillion.
Thank you Mr. President for adding billions of dollars to this monstrosity of a law.
You can't blame the republicans for this one, Obama did this himself, by himself when he unilaterally decided to delay one of the major components of this law.