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The Obamacare Time Bomb is Ticking…

21st Century Wire says…

When the government gets involved in controlling a national market, the result can only be chaos, and inflation. Americans are quickly discovering that the President’s political Pièce de résistance was never meant to work for them, rather, it’s been designed to work against them.

The cascading effect has already begun, adversely affecting millions of families and businesses which were clearly better off before draconian health insurance measure were forced into law. On top of all this, Obamacare creates huge incentives that will actually motivate people to reduce their declared household incomes. Yes, it’s true.

A recent caller to the Savage Nation radio show tells his plight, where he is now being forced to pay 92% of his salary for a new Obamacare family plan:

Businesses are being forced en mass to drop employee coverage, while insurance companies are taking advantage of the situation by off-loading all of their “expensive” customers into the new government-run healthcare pools.

One FOX News reader, JR Whitten is blaming the acceleration of the debacle on political hubris:

“The cancelations will continue till there is no other place to go but Obamacare. The meeting with Insurance commisioners was to get a back room deal to keep the cancelled policies from being recinded. Obama will say and do anything at this point to keep Obamacare alive. Even if it means selling the credibility of of the Democrats and the media down the Potomac. The lie about only 5% being affected is a good case in point. I don’t understand how he and the Democrats can continue to get contributions. Its now throwing good money after bad.”

Obamacare is nothing more than an ill-conceived, unmitigated disaster. Endless patches and paper shuffling will be required in order to keep this leaking ship afloat, but it’s become clear that the so-called “Affordable Care Act” is anything but affordable for the country.

Fox News report this week points out the obvious…

Second wave of health plan cancellations looms

FOX News

A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall — right before the mid-term elections. 

The next round of cancellations and premium hikes is expected to hit employees, particularly of small businesses. While the administration has tried to downplay the cancellation notices hitting policyholders on the individual market by noting they represent a relatively small fraction of the population, the swath of people who will be affected by the shakeup in employer-sponsored coverage will be much broader. 

An analysis by the American Enterprise Institute, a conservative think tank, shows the administration anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predict up to 100 million small and large business policies could be canceled next year. 

“The impact I’m mostly worried about is on small young, entrepreneurial firms that will suddenly face much higher health insurance premiums if they want to offer health insurance to their employees,” said AEI resident scholar Stan Veuger. “I think for a lot of other businesses … they can just send their employees to the exchanges or offer them a fixed subsidy every month to buy health insurance themselves.” 

Under the health care law, businesses with fewer than 50 workers do not have to provide health coverage. But if they do, the policies will still have to meet the benefit standards set by ObamaCare. 

As reported by AEI’s Scott Gottlieb, some businesses got around this by renewing their policies before the end of 2013. But the relief is temporary, and they are expected to have to offer in-compliance plans for 2015. According to Gottlieb, that means beginning in October 2014 the cancellation notices will start to go out. 

Then, businesses will have to either find a new plan — which could be considerably more expensive — or send workers onto the ObamaCare exchanges. 

For workers, their experience could mirror that of the 5 million or so on the individual market who already received cancellation notices because their plans did not meet new standards under the Affordable Care Act. 

President Obama announced last week that insurance companies could offer out-of-compliance plans for another year. But that only means the cancellation notices will resume late next year. 

The business community has already been hit with another side effect from ObamaCare. Because the law will require businesses with more than 50 full-time workers to offer health coverage, there are reports that companies are shifting employees to part-time status to avoid hitting the threshold. 

Though the administration describes these accounts as anecdotal — and has already delayed the employer mandate by a year — studies suggest otherwise…

Continue this story at Fox News.com

READ MORE US NEWS AT: 21st Century Wire



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