Two recent pieces about hidden aspects of the Affordable Care Act that are just coming to light, almost three years after the law was passed. Friday's WSJ reported that employers are just now learning about a $63 per person fee that companies will have to pay for each person they insure. The proceeds will go to insurance companies to cover the higher medical costs they will face when they can no longer bar coverage to people with pre-existing conditions. Naturally employers will pass some of this tax on to their workers, either through smaller raises or reduced health benefits.
Unions, once strong proponents of ACA, are now having second thoughts, reports the Weekly Standard. Some union leaders expected that their plans would be given waivers from ACA requirements, but so far most of them are still waiting for their waiver. Also, the most generous plans are subject to the "Cadillac tax," and -- surprise, surprise -- employers are not too crazy about paying union workers extra money to cover the tax.
Dow hits 20,000
2 months ago