President Barack Obama is planning on having his cake and eating it too. He wants the Government to offer a public option, but expecting employers to continue offering insurance to their employees. How likely is that scenario?
Less than 24 hours than the final scope of Obama-care was revealed, employers are starting to discover Obama-math.
Here’s what Obama-math looks like:
Employers would face an 8% penalty (or tax) if they don’t provide insurance to their employees. Barack Obama is counting on employers to continue providing insurance to their employees. The $1 trillion price tag on Obama-care is predicated on only 10 million Americans enrolling in the program.
A physician group in the Midwest provided this brilliant example of Obama-math during meetings in Washington, D.C. this week. They have payroll of $51 million per year, and currently pay $7 million per year in health benefits to employees. However, if this business decided to cancel the health insurance benefits for their employees and pay the 8% penalty tax they would owe only $4.1 million per year. So, they would save about $3 million a year by shifting the burden to the government.
Independent experts are predicting that as many as 150 million Americans could end up in the Government program within 24 months. If every 10 million Americans in Obama-care costs $1 trillion, what will be the real price tag of Obama-care? You can do the math.
