Friday, March 26, 2010

Businesses React to Rising Cost of ObamaCare: They're Cutting Benefits

This is from a ticker so I'm not posting the link because won't be active for long, but I didn't make this up. These examples are coming from the Wall Street Journal.

Remember the part in the ObamaCare pitch when they said if you like your
current healthcare, it won't change?

Turns out it might.

Companies are already announcing that their healthcare premium costs are going through the roof. Some are responding by firing people. Some are cutting
benefits. And some are presumably eating it.
But costs they are a-rising.

A few examples from the WSJ:-- Caterpillar said it would cost the
company at least $100 million more in the first year alone.-- Medical device
maker Medtronic warned that new taxes on its products could force it to lay off
a thousand workers.-- Verizon announced to employees that it will likely have to
cut healthcare benefits to offset the new costs.

So, people who like your employer-provided health insurance, get ready to pay more or get less.

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