Health Law Leaves Businesses With Higher Costs, Employees With Fewer Hours
President Obama and supporters of the health law promised the American people that they would be able to keep their health plans, keep their doctors, and they would save money. At the same time, the White House has denied reports that the health law would lead to fewer full-time employees. In reality, however, the law has left both families and businesses concerned about their health plans, access to doctors, and rising costs. The Washington Free Beacon reports, “A New York Federal Reserve survey shows that employers are hiring more part-time workers due to rising health care costs caused by Obamacare. Obamacare is causing health care costs to rise for employers by an estimated 10 percent.”
August 20, 2014
Employers Hiring More Part-Time Workers Due to Obamacare
A New York Federal Reserve survey shows that employers are hiring more part-time workers due to rising health care costs caused by Obamacare.
Obamacare is causing health care costs to rise for employers by an estimated 10 percent.
According to the U.S. Chamber of Commerce:
Employers were also asked what effects Obamacare is having on their labor forces. Over 21% of manufacturers and nearly 17% of service firms say they reduced the number of employees because of the law, while only about 2% of each have hired more workers. What’s more, nearly 20% of both manufacturers and service firms say that Obamacare has pushed them to increase their proportion of part-time workers, but just under 5% of each type of firm said they have lowered them. Presumably this is due to the perverse incentives from Obamacare’s employer mandate.
The sad truth is the health care law is pushing higher health costs onto employers and incentivizing them to hire more part-time workers. Despite passing a law in 2010 loaded with rules, regulations, mandates, and taxes, health care reform is needed more than ever. For solutions that that will control health care costs, improve quality, and expand access, check out the U.S. Chamber’s Health Care Solutions Council report. …
Read the article online HERE.