Obamacare mirrors these provisions; businesses with 50 or more employees will pay a penalty for not offering coverage, individuals must carry insurance or pay a penalty, and the government will offer tax credits between 35 percent to 50 percent of the cost of coverage for small employers with no more than 25 employees.
The math provided by PricewaterhouseCoopers showed what the employer-sponsored insurance will mean for employers and for employees once Obamacare is implemented. As the firm explained, compensating workers will enable businesses to save money when they provide a combination of salary and health insurance because of the federal tax exclusions. For example, if a company provides coverage to a worker earning $52,000 per year in 2014, it will save $2,550.87 because of tax deductions from the insurance. When workers obtain health insurance through their employer, their take-home pay is higher. A family with a combined income of $92,000 in 2014 that has employer-sponsored coverage earns $3,097.50 more in pay by taking advantage of the federal tax exclusion for the insurance