The real cost of the health care law
At the end of this year, the coverage provisions of the Affordable Care Act will take effect. It’s important to understand the economic impact of the health care law’s regulatory burden and 23 tax increases.
The cost of the law is covered with taxes and penalties on businesses and consumers who already pay for their insurance. Health insurance premiums are expected to jump significantly as insurers shift costs to comply with mandated health care benefits.
The employer mandate requires companies with at least 50 workers to provide health insurance to those who work at least 30 hours. In anticipation, some employers have cut back hours or added part-time instead of full-time staff. Of the 162,000 jobs added in July, a disproportionate share is skewed towards lower-wage, part-time work.
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