According to a new Gallup survey, two out of every five small-business owners report that they are holding off on hiring because of Obamacare. They need employees, yes, but they also need to be able to afford them. And the changes brought about by the new health care law have made affordability a thing of the past.
Just ask the Federal Reserve, which regularly collects feedback from businesses and issues reports about the economic outlook. “Many contacts also commented on reluctance to expand due to uncertainty surrounding the Affordable Care Act; some employers cut hours or employees,” the Reserve says in its latest report.
So we see the fallout from Obamacare even before it takes full effect: Workers facing soaring additional costs for health coverage -- even as their hours are cut, leaving them with even smaller paychecks. Employers refusing to hire. And each group feverishly looking for ways to cut costs.
Small wonder that Ben Neptun says he’d “rather file bankruptcy and do without health insurance” because “the fines are less.”
There are financially sound ways to reform health care so that more people get the coverage they need. The UN-Affordable Care Act doesn’t come close.