Thursday, March 25, 2010

How's that Obamacare working out for you?

How's that Obamacare working out for you? As well as the Obama "stimulus" package?

Employers are already warning workers about higher health-care costs and reduced benefits, according to The Wall Street Journal.

From a new WSJ editorial:
Even before President Obama signed the bill on Tuesday, Caterpillar said it would cost the company at least $100 million more in the first year alone. Medical device maker Medtronic warned that new taxes on its products could force it to lay off a thousand workers. Now Verizon joins the roll of businesses staring at adverse consequences.

In an email titled "President Obama Signs Health Care Legislation" sent to all employees Tuesday night, the telecom giant warned that "we expect that Verizon's costs will increase in the short term." While executive vice president for human resources Marc Reed wrote that "it is difficult at this point to gauge the precise impact of this legislation," and that ObamaCare does reflect some of the company's policy priorities, the message to workers was clear: Expect changes for the worse to your health benefits as the direct result of this bill, and maybe as soon as this year.
And this is just the beginning of the havoc Obamacare will create.

Read the full editorial here.

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