CNN, Reporting on October 30th 2013:
The implementation of Obamacare: We had known it was going to be bad, but we really had no idea it would be THIS bad. In my extended family there are at least 6-7 small business owners, and the dinner table discussion for at least a year often included what would happen to local health insurance rates once the law kicked in. At one point a relative flatly stated he would be keeping all of his employees on 30 hours a week or less to make sure he never had to offer health insurance plans for his staff. Since he is kind of the “alpha guy” in the family, most other business owners would follow suit. It was the only way they could afford to stay in business, once Obamacare kicked it. For him, it was either offer health insurance under the new ACA requirements – and go out of business in 3 years – OR opt out of offering health insurance entirely, and manage to stay afloat. Other business owners all over Oregon have had to make the same grim decision, now that Obamacare is the law of the land.
Now that the roll-out has staggered into effect, with all the odd consequences still unfolding, news analysts predict a “second wave” of health insurance policy cancellations next year, which will be, in effect, a literal tsunami, compared to this year: a staggering 100 to 150 million health insurance policies may be canceled next year by small business owners all over the country. I am wondering if another wave of lay-offs and small business closures is to come in 2014 as the law begins to be implemented across the country. With a weak, wobbly recovery inching along, can America actually afford to implement this law without doing more harm to our economy than good, in the long run?
If you have observed that the implementation of ACA has been a rocky road thus far, just wait until the full brunt of 100 million health insurance policy cancellations hits the economic streets in 2014. I see a fiscal calamity coming in 2014, as the nation struggles to try to actually implement this ill conceived, poorly written, cumbersome health care law.
See Report: Second wave of health plan cancellations looms
Alex Jones News Channel, reporting on October 10th 2013: