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Townhall...
Another Obamacare
Debacle
by Bob Beauprez
The Affordable Care Act – aka: ObamaCare – contained an “incentive” for
Small Business Owners who did not provide health care insurance for
their employees to add the benefit. Like much of the rest of the
legislation that the Democrats just had to pass so we could find out
what was in it, that provision appears to be yet another bust.
With their rose-colored glasses on the Obama Administration projected
that 4 million small business owners would take the bait and start
providing health care insurance benefits for their workers. The
government run Small Business Administration’s estimate was a tad more
conservative suggesting that 2.6 million businesses would get in the
game.
According to Internal Revenue Service records, however, a mere 170,300
small businesses signed up in all of 2010 according to Investor’s
Business Daily – just barely 4% of the White House’s estimate.
The General Accounting Office auditors, GAO, reviewed the paltry
performance and succinctly determined the incentive was far too small
and the compliance regulations far too complex for the vast majority of
small businesses to deal with. “Small-business owners generally
do not want to spend the time or money to gather the necessary
information to calculate the credit, given that the credit will likely
be insubstantial,” according to the GAO report.
Had anyone in the Administration actually had some private sector
business experience, they likely would have figured that out in the
first place.
As IBD summarized, “This is not the first time an ObamaCare program has
failed to live up to predictions. The Department of Health
and Human Services initially predicted that 375,000 would enroll in
ObamaCare’s insurance plan for those with pre-existing
conditions. At present, about 61,600 have enrolled in the
high-risk pools.”
While the lack of participation in the incentive results in less cost
for the subsidized incentive the end result will be more individuals
eventually being dumped into the government approved plans – exactly
what the real objective of ObamaCare was from the start…a total
takeover of healthcare by the federal government. And, at that
point the cost skyrockets and individual freedom to choose disappears.
Read this and other articles at Townhall Finance
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