Is The Affordable Care Act Really Bad For Business?

[AmazingDomo]

With all the "the sky is falling, the sky is falling" hysteria going on about the ACA I thought it would be helpful for people to get a grip on some actual facts instead of pissing themselves over "predictions" like...small businesses will crumble.

First and most shame inducing facts-

-Of 17 high-income countries studied by the National Institutes of Health in 2013, the United States was at or near the bottom ininfant mortality, heart and lung disease, sexually transmitted infections, adolescent pregnancies, injuries, homicides, and rates of disability. Together, such issues place the U.S. at the bottom of the list for life expectancy

-According to the World Health Organization , the United States spent more on health care per capita ($7,146), and more on health care as percentage of its GDP (15.2%), than any other nation in 2008.

-The Commonwealth Fund ranked the United States last in the quality of health care among similar countries, and notes U.S. care costs the most.

-The United States is among the few industrialized nations in the world that does not guarantee access to health care for its population

-In 2007, 62.1% of filers for bankruptcy blamed medical expenses. About 25% of all senior citizens declare bankruptcy due to medical expenses, and 43% are forced to mortgage or sell their primary residence

So, yeah...go US.



Then there was this article in Forbes, challenging the notion of the devastation it would cause to small businesses:

Businesses With Fewer Than 50 Employees
The Affordable Care Act does not require businesses with fewer than 50 full-time employees to provide their employees with healthcare coverage. To put this into perspective, 96 percent of the businesses in the U.S. have fewer than 50 employees, which illustrates the improbability of the detrimental effects that some claim the Act will have on business. (And if you have fewer than 25 employees and choose to provide insurance anyway, the Act provides a tax credit to offset the cost.)

Employees of businesses with fewer than 50 employees that do not provide health insurance will be eligible to purchase their own coverage through the health insurance exchanges that will be established under the Affordable Care Act in 2014.

Businesses With More Than 50 Employees

Businesses with more than 50 employees will be required under the Affordable Care Act to provide healthcare coverage to their employees. Let’s put this into perspective. Only 0.2 percent of the businesses in the U.S. with more than 50 employees do not already provide healthcare insurance to full-time employees.

The Affordable Care Act has provisions to make providing health insurance very affordable for many of these businesses. In fact, purchasing insurance through the insurance exchanges established by the Affordable Care Act will be permitted in 2014 for businesses with as many as 100 employees in some states. Additionally, states will be permitted to allow businesses with more than 100 employees to purchase healthcare coverage in the shop exchanges starting in 2017.

All things considered, I think the Affordable Care Act is actually a major step towards creating a more prosperous America — because as entrepreneurs and business owners, it enables us to provide a better life for those who help make our success possible everyday.

www.forbes.com/sites/theyec/2013/04/22/is-the-affordable-care-act-really-bad-for-business/

[docilelion]

Sept 10, 2013 1:20:09 GMT AmazingDomo said:

With all the "the sky is falling, the sky is falling" hysteria going on about the ACA I thought it would be helpful for people to get a grip on some actual facts instead of pissing themselves over "predictions" like...small businesses will crumble.

First and most shame inducing facts-

-Of 17 high-income countries studied by the National Institutes of Health in 2013, the United States was at or near the bottom ininfant mortality, heart and lung disease, sexually transmitted infections, adolescent pregnancies, injuries, homicides, and rates of disability. Together, such issues place the U.S. at the bottom of the list for life expectancy

-According to the World Health Organization , the United States spent more on health care per capita ($7,146), and more on health care as percentage of its GDP (15.2%), than any other nation in 2008.

-The Commonwealth Fund ranked the United States last in the quality of health care among similar countries, and notes U.S. care costs the most.

-The United States is among the few industrialized nations in the world that does not guarantee access to health care for its population

-In 2007, 62.1% of filers for bankruptcy blamed medical expenses. About 25% of all senior citizens declare bankruptcy due to medical expenses, and 43% are forced to mortgage or sell their primary residence

So, yeah...go US.



Then there was this article in Forbes, challenging the notion of the devastation it would cause to small businesses:

Businesses With Fewer Than 50 Employees
The Affordable Care Act does not require businesses with fewer than 50 full-time employees to provide their employees with healthcare coverage. To put this into perspective, 96 percent of the businesses in the U.S. have fewer than 50 employees, which illustrates the improbability of the detrimental effects that some claim the Act will have on business. (And if you have fewer than 25 employees and choose to provide insurance anyway, the Act provides a tax credit to offset the cost.)

Employees of businesses with fewer than 50 employees that do not provide health insurance will be eligible to purchase their own coverage through the health insurance exchanges that will be established under the Affordable Care Act in 2014.

Businesses With More Than 50 Employees

Businesses with more than 50 employees will be required under the Affordable Care Act to provide healthcare coverage to their employees. Let’s put this into perspective. Only 0.2 percent of the businesses in the U.S. with more than 50 employees do not already provide healthcare insurance to full-time employees.

The Affordable Care Act has provisions to make providing health insurance very affordable for many of these businesses. In fact, purchasing insurance through the insurance exchanges established by the Affordable Care Act will be permitted in 2014 for businesses with as many as 100 employees in some states. Additionally, states will be permitted to allow businesses with more than 100 employees to purchase healthcare coverage in the shop exchanges starting in 2017.

All things considered, I think the Affordable Care Act is actually a major step towards creating a more prosperous America — because as entrepreneurs and business owners, it enables us to provide a better life for those who help make our success possible everyday.

www.forbes.com/sites/theyec/2013/04/22/is-the-affordable-care-act-really-bad-for-business/

If you consider higher insurance cost for the average person, not being able to keep your Doctor, not being able to work a full week because employers will not allow you to work a full week because of Obamacare, if taxing companies that make medical equipment, taxing young people for not buying insurance and many more negatives is good for the American people then I guess you're onto something.