“Unfortunately, Obama is pushing the code in the opposite direction. Not only has he managed to get rates increased as part of his “fiscal cliff” deal, his health reform law will add vast new layers of tax complexity. For example, ObamaCare adds a new refundable tax credit to offset the cost of insurance that will not only be a nightmare to administer, but will also narrow the tax base still further by kicking 8 million off the tax rolls. The law gums up the code with new breaks for small businesses, health care investments, adoptions and so on. And it forces the IRS to figure out who gets penalized for not buying insurance and how much they owe.”
“Health-insurance premiums have been rising—and consumers will experience another series of price shocks later this year when some see their premiums skyrocket thanks to the Affordable Care Act, aka ObamaCare. The reason: The congressional Democrats who crafted the legislation ignored virtually every actuarial principle governing rational insurance pricing. Premiums will soon reflect that disregard—indeed, premiums are already reflecting it.”
“But the company now faces a new problem because of the Obama health law. Automation Systems Inc. has expanded to include 37 employees today, and Schanstra says he wants to hire more — maybe as many as 200 or 300 in the next 10 to 15 years. But once the business crosses the 50-employee threshold, it will have to pay $40,000 in penalties, plus $2,000 for each additional employee. That’s because of the so-called employer mandate, a fee imposed on businesses that get too big without providing health care the federal government deems acceptable.”