Real Life Obamacare Small Business, Benefit-Shifting Example

Here is an interesting video regarding the effects of Obamacare on all the employees at at Simonetta's auto repair shop in Pennsylvania. The video was made by a local TV station.

A couple premiums dropped, but most went up, some by huge amounts. In every case deductibles soared. Every person involved is worse off than before.




Link if video does not play: Employees in Pennsylvania Company Learn of Increased Health Costs Due to Obamacare

Partial Transcript

Jeff and Dave used to have a $1,250 deductible. Since Obamacare went into effect, it's now jumped 60 percent to $2,000. That's nothing compared to Brian, Kristi, and Judy who have kids. they are going to pay twice that, four grand."

"I don't know how President Obama thinks he's helping us because we can't afford this, we can't afford to pay these co-pays, to pay these deductibles on what we're making," says one of the workers.

Another worker adds, "They call it the affordable health plan. There's nothing affordable about it. I can't afford it."

Winners and Losers

Obamacare shifted the winners and losers.

A small number of people gained big (those with no insurance, those with preexisting conditions, and those who get free Medicaid). To pay for that, a large number of people lost, to varying degrees.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.