ObamaCare ImplodingSubmitted by emalvini on Mon, 04/15/2013 - 21:26
Here is what Investors Business Daily has to say about Obamacare.
Okay folks, I know you think the C-Span Channel that broadcasts all those Congressional hearings is boring, but, really, you should have been around to watch the Senate Finance Committee's hearing Wednesday on the Affordable Health Care Insurance Oversight.
Folks, you haven't seen so many faces of misery since you watched Les Miserables for three and a half hours...and they were all Democrats. And one of them, Senator Max Baucus, was the primary sponsor of Obamacare in the Senate!
Now, try to follow me here because this gets pretty complicated. (It seems that Nancy Pelosi was right; you DO have to pass Obamacare to find out what's in it...and the Democrats are now learning what the Republicans warned them about. It's an unworkable mess that is throwing millions of Americans off the health care rolls!)
Okay, apparently, tens of thousands of American employers began throwing workers off their health care plans and opting to pay the much lower federal fine for not offering health care for their workers. Thousands more are even now converting their full time workers to part time workers by limiting working hours per week to less than 30, in compliance with Obamacare rules. (Remember when Paul Ryan and the Republicans predicted employers would do this? Remember when Democrats were warned that employers would move to save operating expenses by moving their entire work force into federal healthcare exchanges?)
Now, these workers who have lost their health care benefits are busy trying to sign up for state health care exchanges. (There are Internet sites available if your state has agreed to sign up to Obamacare). However, when these American workers, soon to be without employee provided health care, go to the Health Exchange to sign up, they are finding they are not qualified! It seems that during the signup process, applicants are required to fill in various income and benefit data, which then flows over to IRS computers who then are to spit out what your premium costs will be and how much federal tax credits you'll receive in order to receive subsidies to help you afford health care premiums that are as much as 30% more than you were paying under your employer’s plan!
Big Problem! The IRS is only allowing somewhere around 9% subsidy support for Obamacare Health care Exchange premiums that are priced so much higher than the worker was paying under his employer plan! (Surprise, Surprise! Remember Republicans warning that forcing working Americans to pay for the 30 million leaches who pay nothing for their health care under Medicaid would drive the premiums of working Americans higher?)