Posted on 08/29/2010 7:36:26 AM PDT by Rashputin
We know about the backroom deals made to get Congressmen to vote for ObamaCare but there were also favors cut out for unions, drug makers, and even small business to get them to support the program.
Guess what? The "credit" offered to small business to help them pay for the increased health care costs-due to ObamaCare mandates- turns out to be not much help at all.
Many businesses cannot take advantage of the tax credit to reduce their cost of providing health insurance.
Business Week reports:
Eager to promote the new small-business tax credit, the government this spring mailed 4 million eligible companies postcards with highlights of the program. The response has been tepid, according to insurance brokers who sell small-group policies. The reason, they argue, is that the credit starts to phase out for companies that pay average annual wages of more than $25,000 or employ more than 25 workers. The value of the benefit declines quickly, so many business owners in high-cost states get no tax break, and those elsewhere often say the credit is too small to make much of a difference. Sales of health plans have gotten "very little traction so far," says James Stenger, director of business development for BenefitMall, which sells small-group plans in New Jersey.
Stenger says most of his clients pay their workers more than $25,000 a year, so the average tax credit he's seeing for the few who qualify is about 10 percent of the cost of the policy. That's less than $200 per worker-not enough to spur many business owners to start providing coverage.
The legislation "is just not doing what we had hoped," says Steven Selinsky, the incoming president of the National Association of Health Underwriters.
Imagine that - an Obama promise (or bribe, or "deal") not being fulfilled.
The legislation "is just not doing what we had hoped". Hopefully, the epitaph for Obamacare.
Why would people who designed and enacted a system to kill citizens as a means to buy votes follow through on little stuff like the payoffs they traded for votes? If the ethics embodied in BarryCare is any guide, those pols expecting a payoff had better be worried about Barry sending a Predator their way.
You’d think anyone would be suspicious when one one hand they’re told they’re being charged for something ....but on the other hand they’re told ...hey....we’ll give you a credit for that.
Bunch of dumb business owners, clearly they do not realize the implicit action needed to get this benefit!
Slash worker salaries to $12/hour.
Then you get all that Obama-sourced goodness for your bottom-of-the-barrel health plan!
The legislation is doing exactly what it was intended to do. Make it more affordable for employers to stop providing health care and pay the penalty, forcing ALL of us onto the government run plan.
btt
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