Hollywood is awash with fear of what ObamaCare will do to them. Eric Belcher, president and CEO of Cast & Crew Entertainment Services is worried because ObamaCare wasn’t written with the entertainment industry in mind. “It’s a morass of regulations and requirements and everyone is trying to figure out what their exposure is.” ObamaCare wasn’t written with anyone in mind except Socialist who are hell bent on destroying America.
Like the rest of the “real” world, Hollywood is having difficulty determining whether employees will be considered full-time or part-time and worried that they might make the wrong call. What they will probably end up doing is just outsourcing productions to foreign nations since ObamaCare doesn’t apply to citizens working abroad. No fines to worry about – no employer-provided insurance – it’s a win-win for the studios. The big star hypocrites get to keep their money and the little guy loses his job, his savings, his home, and his insurance.
Daniel Cox who leads a payroll service company put it best when he said that “our clients need to know that the days of 100-percent employer-paid benefits at a certain executive level can no longer exist.”
In the “real” world companies have already cut their future insurance expense by cutting part-time employee hours to avoid having to provide insurance. Other companies are just laying off workers. And regardless of what you hear about those 400,000 new jobs Pelosi promised, a new Federal Reserve “Beige Book Report says otherwise.
The report noted that “many district contacts commented on the expired payroll tax holiday and the Affordable Care Act as having restrained sales growth. . .Employers in several Districts cited the unknown effects as reasons for planned layoffs and reluctance to hire more staff.”
The Richmond Fed’s section of the report said that “labor market activity was little changed since our last report. Hiring remained flat across most sectors.
The Dallas Fed’s section said that reports from staffing firms were mixed. One contact noted sharp declines in demand for services across the board. . .Outlooks were cautious. . Some contacts noted concern that client companies are hiring the absolute minimum to get by due to uncertainty about the Affordable Care Act.
The harsh reality of Obamacare is that tens of millions will LOSE their employer provided insurance because of the perverse incentives under the program. Even the CBO admits that at least 7 million, and as many as 20 million, will lose their employer coverage. In February, CBO reported that “in 2019 [5 years after Obamacare is implemented], an estimated 12 million people who would have had an offer of employment-based coverage under prior law will lose their offer under current law.
Not everyone agrees with the CBO report. Former CBO Director Douglas Holtz-Eakin estimated in a study for the American Action Forum that more than 40 million workers would lose their employer coverage due to ObamaCare. And it will be much worse than that when all the cost increasing impacts are realized.
Already employers are replacing full-time employment with part-time employment paying lower wages and no benefits. Small businesses with less than 50 employees are freezing hiring, and those with just above 50 workers have begun layoffs. Moreover, under the Obamacare law, the employer mandate does not require employers to cover the family dependents of their workers. So the trend towards losing coverage is much worse than you were told.
Obamacare is going to be causing chaos for seniors as well. As NCPA President John Goodman points out in his health policy blog on March 25, almost half of Obamacare is paid for over the next decade by draining $716 billion out of Medicare.
While Democrats have been so aggressive about accusing Republicans of wanting to slash Medicare, it is Obama and the Democrats who have actually done it.
And let’s not forget that the bunch of weasels we elected to Congress who passed a bill they never read and are doing their darndest to find a way to extract themselves from compliance.
New numbers from a Gallup poll shows that 52% of Americans already disapprove of ObamaCare. This is a shift from last fall when only 45% disapproved. Just wait until Americans have to start filling out their applications to have insurance with the IRS – that disapproval number will jump dramatically.