Instead of economic growth, Obamacare has caused a negative uproar with the new health care reform.
According to reports, many businesses chose to cut back with costs, moving full-time employees to part-time status. Small businesses are especially affected by all of this.
When Obamacare was first introduced, President Obama made it clear that businesses with more than 50 employees need to provide insurance – or face a penalty. However, this particular part of the law kept getting postponed. Nonetheless, business owners know this is coming to them so they have created changes.
Some of these changes include limiting the employment roll to 50, at most. Others have cut salary wages and changed some employees from full-time status to part-time.
These increased cost to employers have caused reduced wages, hire less, and more payment for insurance premiums.
The administration will access into this more but the end result do not look appealing for the people affected by these changes.
Year One found small businesses not providing health insurance options for their employees through Obamacare. The plan called SHOP meant to encourage companies to present their staff a selection of insurance options – but then there was a delay.
As reports indicate, about 8 milliion people signed up for the health insurance under the marketplace. While positive news escalated since its first run, small businesses seem anxious to present their employees options for their health care. Then again, another delay hit.
The delays hurt Obamacare because the small businesses seem to rely heavily on providing choices. Now without it, small businesses growth will slow down. The administration needs to concoct a plan to help these people. The economy is still suffering and with these type of delays, it will continue to do so.
For small businesses that want to offer employees health insurance through Obamacare, there aren’t a lot of reasons to buy that coverage. Why? Because there are not a lot options for them to choose from.
The advantages of employee choice are obvious: workers can pick the plan that best suits their own needs in health coverage. The flexibility allows everyone to pick on that meets their financial limits and family size. It seems to make sense.
However, employee choice became an early casualty of the Obama administration’s health exchange issue. In fact, the option for them to choose has been postponed. The administration is allowing states to put off employee choice for another year, which gives businesses time to look over options for their companies.
But with the time allowance, how will it fare on all parties? Will the extra allocated time prove beneficial or pointless? Perhaps the Obama administration is cooking up other possibilities to create new options and lure more people into signing up for health coverage under Obamacare.
With continuous alterations with Obamacare, it seems that that many people do not seem convince anymore about it. According to a report, approximately 11 million small business employees will see an increase in premiums under Obamacare.
This latest reveal is another telling sign that bad news is tied in with the Affordable Care Act. Many people associated the new health care mandate as a way to reduce health insurance costs. Wrong!
The fact that two-thirds of Americans who work at small businesses will see premium increases because of the health law is devastating news. This is one more in a long line of broken promises from President Obama and Washington Democrats.
This fact is yet another hit in the gut especially for small businesses. Health care costs have been growing and it plans to burden the shoulders of younger and healthier workers, while the older and frequently sick individuals pay lesser. After all, small businesses with over 50 employees are required to offer health insurance to all staff members. Time will tell how Obamacare will truly fare, especially for small businesses in the year ahead.
The Obama administration recently announced another delay in terms of the requirement for businesses when it comes to Obamacare.
What was supposed to be an initial push for next year after the midterm elections, the administration recently expressed that businesses can wait until 2016 before being required to cover full-time staff (50 to 99 employees) – or face paying a penalty. But for businesses with 100 or more people, it will take effect in 2015. Everyone knowse that the mandate was originally supposed to take effect this year.
So what does this mean for both political parties? For the Democratic Party, this will create doubt and uncertainty amongst the public. It also also determine if these past moves, with Obamacare, will help them keep control of the Senate come fall.
As for the Republicans, this new effect will have them push for the health care law to be repealed or suspended – and they will magnify every failure made by the Democrats as a way to take down their opponents,
But is really the deal with the Obamacare? And what is the reason behind another push back? According to reports, the law obviously still has holes in it. With the lack of management behind the scenes, it looks like it will take a while for the administration to fully enforce a positive support from the public.
One would think that big companies would not be affected by the health care changes brought on by Obamacare. Well, think again. In the latest report, sources have stated that major corporations, namely AOL Inc. have reduced employee benefits.
Because of cutbacks and changes from the Affordable Care Act, AOL decided to trim employees’ retirement benefits starting this year. The company will pay 401(k) match to those active on December 31st of the year, eliminating the addition on their paychecks throughout the year.
The increased $7.1 million costs caused the increase in health care costs. Aside from new Obamacare fees and taxes, the growth of health care costs will also prompt premiums to steadily rise starting this year.
The news can come as a surprise especially from a relatively large corporation. As many people know, with small businesses, there are policies such as providing insurance if staff has over 50 employees. If no insurance, then there’s a penalty.
With major companies, there are also negative results due to Obamacare. There is hope that a new formula will be created to resolve the confusion and changes. However, for now, actions need to be done in order to save a continued struggling economy.
And for President Obama to think everything getting better with Obamacare, all is not OK.
The first year of Obamacare seems to have gone through rough, stormy seas. With the website’s glitches and healthcare mandate alterations, it hasn’t solidified itself in the healthcare world. And with the strict criteria that comes along with the Affordable Care Act, it seems many businesses are altering their practices for the new year.
With Obamacare, there’s the option of buying insurance with being in a company to obtain it. It works, especially in a very seemingly entrepreneurial era we live in today. In reality, there are many start-ups and small businesses established throughout the country. It’s basically a free market in healthcare. Therefore, it doesn’t really require people to look for jobs that provide them these benefits because individuals can certainly seek coverage on their own.
Will it work? Who knows. Risky move, but it seems that many people are willing to take that step and establishing their own business. It may or may not thrive. It’s hard to know what lies ahead with Obamacare because the healthcare mandate keeps changing and sometimes, it’s hard to keep up.
The Obama administration plans to delay the start of next year’s Obamacare enrollment period. The new cutoff will aim to fall right conveniently after the midterm elections. President Obama hopes that this period of time can be used for people to look over their plans and carefully select one that seems suitable for their needs.
It’s been more than an month since the Affordable Care Act, known famously as Obamacare made its debut. Since then, obstacles have caused the number of enrollment signups to fluctuate, hurting the administration and Democratic Party, as a whole.
The delay will hopefully increase numbers next year since the allocated time allows insurers to structure new plans and rates for consumers.
Of course with that, comes with the action of brainstorming ideas and building up from before, in order to persuade more people to sign up for the coverage from the health exchange marketplace. With the delay also allows a thoughtful decision to be made, choosing a plan and being happy with it. If all fails, the Democratic Party loses its control in the Senate and again, the House.
The administration needs to draft a better plan for Obamacare come next year. It seems many people are losing their patience over a very faulty health care policy.
I guess we, small business owners lucked out a bit when Obamacare premiums for small businesses were pushed back until next year. With some major misfortunes that occurred these past three weeks, it’s hard to tell what to expect when the health exchanges start rolling out for us. It might be another Doom’s Day.
The latest happenings in the complicated world of health care is that people have been receiving letters, informing them that their health plans have been cancelled because that insurance policy was no longer available.
With that occurring, it pushes these individuals to turn to Obamacare, which offers limited plans. This is a smart move on the administration’s part because it means more enrollment for the health care mandate.
For some people, the deductible may be less, but there aren’t a lot of options available that makes Obamacare enticing. I think many are even willing to face the penalty and pay the fine. I don’t blame them. Why would I want to have something that I don’t really want? It’s expensive and pretty useless to me if you ask.
Recent reports indicate that small business owners are going to be able to receive tax credits through Obamacare health exchanges. This can cover up to 35% of the cost when small businesses provide coverage to employees.
Small businesses can only qualify to receive the tax credits for two years and there is quite a process to go through in order to be considered for tax credit. There is extensive paperwork to fill out, and they will only benefit if they made enough of a profit to benefit from the tax credit. According findings, “The tax credit is claimed on Form 8941, which has 10 pages of instructions and contains seven worksheets.”
I know I haven’t decided on whether or not I will purchase health coverage on the new insurance marketplaces next year for my small business. To be honest, my decision weighs heavily on not necessarily the costs, but my own employees’ happiness. After all, they contribute to the success of my company.
Sure, the tax credit may be enticing, but with the limited options of insurance plans that Obamacare presents, it does not seem enough to persuade the consensus to sign up for insurance. They would want the privilege to choose, not forced. I really don’t care if there’s a penalty of a monetary fee. You know, there’s no guarantee there will be a tax credit going back to us. Why trust Obamacare now, if I haven’t even yet before?