Employment Expert Explains Why Obamacare Has Led To Job Losses And Slashed Hours
Under the Affordable Care Act, companies with 50 or more employees are required to provide health insurance to their staff if these employees work 30 hours or more a week.
Rob Wilson, President of Employco USA, says, “Since many companies cannot afford to provide health insurance for their staff, employers have instead opted to cut their employees’ hours so that they can limit their number of full-time staff and avoid costly health insurance plans. That means that many families will be forced to have working parents with not one but two jobs…and still no insurance!”
The bad new doesn’t end there, according to Wilson. As companies hunt for the most affordable plans and try to juggle all these new costs, something has to give.
Wilson explains, “To save money, employers might select an insurance plan that has higher out-of-pocket spending or even an insurance plan that does not place a cap on individual spending. This means that employees might now get stuck with a high-cost insurance plan for the next year, potentially spending thousands of dollars out-of-pocket on their healthcare. Numerous organizations have already seen their out-of-pocket expenditures skyrocket, and everyone from college students to families have seen their healthcare costs become an expensive luxury…if not completely unaffordable.”