Several small business owners told Congress they don’t know how they will stay afloat when the Patient Protection and Affordable Care Act’s Health Insurance Tax (HIT) raises insurance premiums by as much as $500 per employee in 2014. The business owners, who have covered 100 percent of their employees’ insurance premiums in the past, said that with the HIT, they will struggle to offer any health care coverage at all. “I’m really sorry, but this is future of health care. The best I can tell you is— don’t get sick,” said Joe Moreshead, owner of Precision Screw Machine Products in Maine, who joined members of Congress at a Wednesday press conference. Moreshead spoke about the devastation the HIT will have on his business as he will have to take an additional $500 from each of his employees to pay for their health insurance.
The answer to all this is obvious, our healthcare standards are just to high. Anyone who thinks that the certain outcome of Obamacare is lower health care standards is just not paying attention. People with a lot of money will do fine, those in the middle who pay all the bills get screwed again. Thanks again to our worthless, overpayed, incompetent central government and the worhtelss, pathetic president who driove us to this.
According to the company profile, Precision Screw Machine Products employs between 11 and 50 people. Businesses with less than 50 employees are exempt from Obamacare. They are under no obligation to provide health insurance for their employees, much less pay 100% of the premium. If they employ 25 or fewer people, they actually qualify for a tax credit if they do provide heath insurance.
There is no reason this company should not be able to stay afloat.
I don't know if you buy your own health insurance or your company provides it, but up until Obamacare my insurance premiums have NOT gone up arbitrarily. They had only gone up due to age classification as is the case for most. Obamacare changed the insurance companies risks so they had to increase their prices. Everybody with any mind knew you could not insure all these high risk or uninsured people without raising the premiums of all responsible people. Obama saying insurance cost would go down. What a joke.