For The Truth About ObamaCare, Just Follow The Money

IBD Editorials ^ | May 1, 2012

[Kaslin]

ObamaCare: Yet another study — this one a survey of America's largest firms — shows why employers will drop health coverage for their workers once they do the math and see how much they can save.

It's no longer news that President Obama isn't even close to keeping his promise to preserve the employer-paid health coverage enjoyed by tens of millions of Americans. But that fact bears repeating, especially since it keeps getting confirmed by new data.

The latest piece of evidence comes from a confidential survey of Fortune 100 firms. It's a Republican report, produced by the House Ways and Means Committee's majority staff, but Democrats will be kidding themselves if they dismiss it as a mere partisan screed. That's because the survey's central finding makes objective sense:

Under ObamaCare, these large employers can save serious money by dropping coverage. Among the 71 firms responding, the estimated savings come to $28.6 billion in 2014 alone and $422.4 billion through 2023. This is despite the law's penalty of $2,000 per full-time employee paid by companies that decide not to pay for coverage. The net savings per dropped employee would be $4,821, on an after-tax basis, in 2014.

[South Dakota]

Golly. It only took them this long to figure out what we knew from the beginning.

[I am Richard Brandon]

What a surprise - NOT. When the companies have all dropped coverage and everyone has been forced into Obamacare, watch the ‘fines’ necessarily skyrocket to coin a phrase. The money has to come from somewhere.

[Venturer]

The Government would rather have the fines than have people insured. It was all a part of the plan.

[antidemoncrat]

The Progressive’s plan from the get-go was a public option. If corporations won’t cover their employees, the Feds will just have to provide a Government run public option to save us...and it will probably be just as successful as all the other bankrupt programs they have ran in the past.