Surprise: Obamacare to Increase Healthcare Costs of 11 Million Small Business Workers

Katie Pavlich

2/25/2014 9:20:00 AM - Katie Pavlich

A new report shows at least 11 million small business workers and their employers will see their health insurance costs skyrocket thanks to Obamacare. More from the Washington Post:

Nearly two-thirds of small businesses that currently offer health insurance to their workers will pay more for coverage as a result of new rules in the health care law, as will millions of small-business employees and their family members, according to new estimates released by the Obama administration.

The Centers for Medicare and Medicaid Services, which has spearheaded the implementation of the law, has acknowledged that new rules requiring insurers to offer guaranteed coverage and renewal options to small employers will likely drive up the price of insurance for some companies. So will rules banning insurance companies from varying their rates based on factors like a company’s industry or the age of its employees.

“We are estimating that 65 percent of the small firms are expected to experience increases in their premium rates while the remaining 35 percent are anticipated to have rate reductions,” CMS’ Office of the Actuary wrote in a new report. Conversely, “the effect on large employers is expected to be negligible,” because most large companies run their health insurance programs in house.

In case it's getting difficult to keep track, here's a reminder of what Obamacare has done so far:

-Stripped millions of their previous health insurance plans they were promised they could keep

-Stripped millions of the doctors they were promised they could keep

-Stripped cancer patients of insurance and life saving treatments

-Increased healthcare premiums of millions of Americans

-Has expanded the welfare state

-Will kill at least 2.5 million jobs according to the Congressional Budget Office

-Has stifled innovation in the medical device industry thanks to the medical device tax

-Has stifled the economy, job growth and economic growth as a whole due to uncertainty