During my campaign for governor, I met thousands of small business owners across the state. One of their top concerns: how they are going to handle the heavy costs imposed by the employer mandates in Obamacare.
Many have concluded they simply cannot afford the mandated increases they face in the cost of providing health insurance to their employees. Quite a few have decided they will have to drop their insurance plans and pay the resulting fines instead, leaving their employees without coverage and forcing them into the Obamacare health insurance exchanges.
Without employer coverage, the employees too will face penalties if they cannot satisfy the individual health insurance mandate. Perhaps because of this inevitable, disastrous cascading effect that the Administration has decided to postpone the employer mandate for a year, as detailed below.
– Rob McKenna
Key Obamacare rule for business delayed for year
The Obama administration is postponing the federal health care law’s insurance mandate for employers next year, in a major concession to the business community and lawmakers who have become increasingly vocal about the law’s potential to damage a slowly recovering economy.
The announcement doesn’t affect the main coverage tools in the law — the individual mandate and the new subsidized insurance markets. But it could boost the cost of the law if more people end up seeking subsidies instead of getting covered on the job.