ObamaCare has taken a pretty heavy toll on small business. Every week I am having conversations with entrepreneurs who are telling me ObamaCare is causing them to lay off team members due to the increase in rates it has created.
As well as companies aren’t hiring because of the potential impact.
The Federal Reserve reports:
- Employers Cited ObamaCare As Reasons For “Planned Layoffs And Reluctance To Hire More Staff.”
- Businesses Have “Delayed Hiring” Due To ObamaCare.
- ObamaCare Has Caused Companies To Hire “The Absolute Minimum” Of Employees To Skirt The Law’s Burdensome Regulations.
In 2014, companies with 50 or more team members are expected to pick up 100% of team member insurance, or pay $750 a year per team member penalty to the Government. This is a ridiculous idea, since it will be cheaper for companies to pay the fine and leave team members without insurance. But the Government will get paid!
Many companies are considering not growing past 49 total team members. Thus keeping them from growing business.
There are SO MANY issues with this that I could post on, but I really want to know your thoughts.
Question: How is ObamaCare affecting you, and what do you think of the changes?