Perverse Incentives

Look Out Below, The Obamacare Chaos Is Coming

"The harsh reality of Obamacare is that tens of millions will lose their employer provided insurance because of the perverse incentives under the program. Even the establishment CBO admits that at least 7 million, and as many as 20 million, will lose their employer coverage. Workers who do not receive employer provided coverage are eligible to purchase their health insurance on the state Exchanges with extensive taxpayer subsidies to help cover the cost. Employers can terminate their employee coverage, give their workers a raise with part of the savings, and let the taxpayers bear the cost of subsidizing their coverage in the Exchanges." Continue reading →

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Obamacare Cost Me Full-Time Work

"I work in television production as a freelance worker. While freelance, I do work for one major media company that uses me quite a lot and accounts for probably 85% of my work. I regularly work 3-4 days per week with them and often more depending on the time of year.Today we were told that freelancers would soon have to work under 30 hours per week. Since shifts are 8 hours, this means nobody will be able to work here as a freelancer for more than 3 days per week (24 hours total). I've calculated that the maximum I can make in a year with them is now about 30% less than I have made with this company in each of the past 2 years." Continue reading →

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Americans fall out of favour with Swiss banks

"Already battle-scarred from the hard lessons of recent years, Swiss banks are taking a very cautious approach when it comes to the introduction of FATCA. The US law requires banks around the world to report information on American account holders to Uncle Sam. There are also concerns that FATCA’s collateral damage could extend beyond the home front into the business world. If an American owns more than 10 percent of a company, it is reportable to the IRS. The worry is that this rule may make it harder for US entrepreneurs to find business and banking partners, shutting them out of attractive investment opportunities." Continue reading →

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No proof that helmets prevent concussion: experts

"Helmets and mouthguards can prevent serious head and facial injuries, but there is no evidence they specifically stave off concussion, top authorities in sports medicine say. Paradoxically, wearing this protection may lead to injuries because a player is tempted to take greater risks, they say. 'Biomechanical studies have shown a reduction in impact forces to the brain with the use of head gear and helmets, but these findings have not been translated to show a reduction in concussion incidence.' There can also be a 'paradoxical increase in injury rates' when players, kitted out in protective gear, adopt more dangerous tactics." Continue reading →

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Mounting Evidence: Obamacare Insurance Plans Will Be Bare Bones — and Expensive

"Health plans [...] health plans want to reduce uncertainty around how all the risk-sharing provisions in Obamacare will eventually play out. The legislation puts in place mechanisms that forces Washington to share with health plans some of the cost of the covering the sickest beneficiaries. But the regulations outlining these parameters were only released last Friday. Nobody yet trusts how they'll work.To mitigate uncertainty, plans will price their products high. Insurers know that any excess profits they earn will have to be paid back to the government, anyway. Health plans are better off aiming high, and owing money back, then getting underwater." Continue reading →

Continue ReadingMounting Evidence: Obamacare Insurance Plans Will Be Bare Bones — and Expensive

Obamacare Hammers Upper Middle Class in California: 30% Premium Hikes

"If you are a lower income person in California, your ship has come in. If you make over $70,000, your ship has pulled out. You are about to be run over by a freight train. How many people are in each camp? The losers number 1.3 million. The winners are 3.6 million. This is democracy. 'Thou shalt not steal, except by majority vote.' If you are not married, and make over $46,000 a year, you’re toast. If your family income is above $94,000, you’re toast. If you have insurance from your employer, you survive. Your employers may decide to fire you. You just got way more expensive. Do the words 'independent contractor' sound familiar?" Continue reading →

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Why Obamacare Will Result in a Decline in Cash Wages

"The least-skilled workers are seeing their wages fall over time, largely because they are out of work and failing to acquire the skills that come with working. Moreover, the new health care regulations going into effect in January are expected to reduce cash wages, as many employers of low-skill workers are hit with per-employee fines of about $3,000 per employee per year, as the law mandates new fringe benefits for other employers and low-skill workers have to compete with others for the part-time jobs that are a popular loophole in the new legislation." Continue reading →

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CVS requires employees to report weight or pay a fine under new health care rules

"CVS pharmacy company is requiring all employees to submit detailed health profiles to their insurance company or pay a monthly fine to continue receiving health coverage. According to ABC News, all employees must submit their weight, body fat levels, blood glucose levels and other vital statistics before May 1, 2014, or face a monthly $50 fine — $600 per year. Employees who comply with the testing, the company said, will see no change in their monthly insurance rate. Those who do not will pay the fine or risk being dropped from their health plan." Continue reading →

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CBO: Up to 20 Million Could Be Pushed Off Employer Health Insurance Because of Obamacare

"In February, the Congressional Budget Office said that 7 million will likely lose their employer coverage thanks to ObamaCare — nearly twice its previous estimate. That number could be as high as 20 million, the CBO says. In December, state insurance commissioners warned Obama administration officials that the law's market regulations would likely cause 'rate shocks,' particularly for younger, healthier people forced by ObamaCare to subsidize premiums for those who are older and sicker." Continue reading →

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Obamacare Horror Story #2

"The news has just gotten worse on the Obamacare front. A friend tells me about terrible news his wife received on Friday. She is a college professor on a non-tenure track. The college just notified their non-tenure track teachers that because of Obamacare they will not be able to continue to employ them on a full-time basis. My wife's friend is now teaching 5 courses. Starting in the Fall, she will only be allowed to teach 3 courses and she will not be allowed to teach summer school classes." Continue reading →

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