Another Survey Documents Obamacare’s Ill Effects on Businesses
The National Business Group on Health is out today with its annual survey of its large-employer members, and the results once again document Obamacare’s adverse impacts on both American workers and American businesses:
Higher Costs: Costs for businesses are projected to rise “an average of 7.2% in 2012,” a rate more than twice the level of inflation, and a level which “sharply outpaces the economy’s anemic growth and business conditions.” Remember, President Obama promised that any health care legislation must control costs: “If any bill arrives from Congress that is not controlling costs, that’s not a bill I can support. It’s going to have to control costs.”
Higher Premiums: To control costs, more than half of businesses (53%) “plan to increase the percentage that employees contribute to the premiums, while 39% plan to increase in-network deductibles.” Remember, candidate Obama repeatedly promised to cut insurance premiums by an average of $2,500 per family.
Lost Coverage: Nearly half (49%) of firms have already lost their pre-Obamacare coverage, having forfeited “grandfather status” this year. A further 19% will have at least one plan that loses its grandfather status next year. Remember, candidate Obama promised that “for those of you who have insurance now, nothing will change under the Obama plan – except that you will pay less.”
Today’s report provides yet another instance of how the reality of Obamacare’s impact is FAR divorced from the promises made prior to the legislation’s enactment.