Without congressional approval, Obama is rewriting Obamacare at the last minute in a move that could bankrupt businesses barely hanging on in his miserable economy. He will charge an excise tax of $100 per day for every employee who obtains health insurance on an individual basis from a healthcare exchange.
The purpose is to prevent insurance companies from dropping coverage for employees in exchange for a fine of $3,000 per employee. Health insurance costs are skyrocketing under Obamacare. Costs and taxes will rise if employees are dropped from employer coverage.
The New York Times reports, “The goal is to keep premiums from rising in an election year.”
Everything Obama does is political. Ironically, he ran for election as the D. C. outsider.
The Obama administration is using the brute force of the Internal Revenue Service to force businesses to provide health insurance for employees regardless of previous management decisions or whether or not the business can bear the expense.
The fine will come to $36,500 per year per employee affected, a substantial amount for companies trying to survive.
This will penalize businesses that have been providing health insurance for their employees and businesses that have not been will be fined much less.
Businesses affected will be those who gave employees tax-free cash contributions to purchase on their own to suit their situation. It empowered employees.
Again Obama has eliminated personal choice.
We are the collective.
Using tax dollars to subsidize in lieu of individual choice is apparently social justice.
As Michael Reagan said: “There is no “fixing” or “reforming” Obamacare. It’s is the worst of all possible worlds: socialized medicine combined with an industrial policy dictated by unelected and ill-informed bureaucrats. It removes individual choice. It dictates business planning.”
Read more at the League of American Voters
h/t Gary Spina