Sarah Jane Tribble of Kaiser Health News recently profiled a mid-size company in Ohio that is suffering because of Obamacare. The healthcare costs that the law adds to the company could “put a damper” on the “cheery, Midwest tone” of the employees, and it’s easy to see why
“For many medium-sized companies, like AmeriMark, the new costs of the Affordable Care Act are an added burden on top of the health insurance premiums that have been rising for years,” according to Tribble.
A burden that Tribble emphasizes is the Health Insurance Provider Tax (HIT), which is levied on insurance companies. But it doesn’t just stop there. Instead, “insurers pass the cost on to employers. And employers, in turn, pass some or all of the cost on to employees.”
And that tax burden will have real consequences. According to a recent report from the National Federation of Independent Business Research Foundation, the HIT will “reduce private sector employment by 152,000 to 286,000 jobs in 2023, with approximately 57 percent of those losses falling on small business.”
Additionally, the tax is expected to raise premiums that “amounts to nearly $5,000 per family over the current decade.”
It’s unfair that while everyday Americans continue to struggle in today’s economy, President Obama also heaps his failed healthcare law upon them.