ObamaCare Killing Employer-sponsored Health Insurance — Millions Affected

By:  William F. Jasper
10/29/2013
       
ObamaCare Killing Employer-sponsored Health Insurance — Millions Affected

Home Depot, GE, Trader Joe’s, Walgreen, IBM, and Time Warner are just a few of the major corporations that have announced they will stop sponsoring health insurance plans, either for current employees, retired employees, or both.

Those workers who were formerly covered under these plans will have to find new coverage from the tax-subsidized ObamaCare exchanges or private exchanges.

This is certain to impact millions of American workers. Millions more will feel the pain of the ObamaCare mandates, as businesses of all sizes cut the number of full-time employees and cut the hours of part-time help to avoid the costly premiums ObamaCare will impose on all Employer Sponsored Insurance (ESI) plans for businesses with 50 or more employees. Even though the Obama administration agreed to delay ObamaCare’s employer mandate until 2015, many companies are moving now to avoid facing punitive actions from the government later. Big companies, understandably, make the headlines when they announce plans to lay off workers or cut hours or benefits. But far more workers are likely to be affected by the small- and medium-sized companies that are being forced to make similar decisions for the same reasons.

The Orlando Sentinel, for instance, reported on October 2 that Disney World’s health insurance plan for its 24,000 part-time workers will be illegal next year under the the Affordable Care Act (ACA), also known as ObamaCare. Disney is expected to drop insurance altogether for part-timers, matching moves by two other employment giants in the Orlando area, Universal Orlando and SeaWorld.

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