Bombshell: White House Rules Employers Can’t Dump Workers into Obamacare
By eaglerising / 27 May 2014 / 0 Comments
It figures the Obama administration would wait for a three-day weekend to announce its latest executive rule change to Obamacare (aka the “law of the land”).
This one is a doozy. The implications are so far-reaching that the official White House newspaper, the New York Times, buried the story by Robert Pear on page A12 of the New York edition. Here’s the gist of it:
Many employers had thought they could shift health costs to the government by sending their employees to a health insurance exchange with a tax-free contribution of cash to help pay premiums, but the Obama administration has squelched the idea in a new ruling. Such arrangements do not satisfy the health care law, the administration said, and employers may be subject to a tax penalty of $100 a day — or $36,500 a year — for each employee who goes into the individual marketplace.
The ruling this month, by the Internal Revenue Service, blocks any wholesale move by employers to dump employees into the exchanges.
Many employers — some that now offer coverage and some that do not — had concluded that it would be cheaper to provide each employee with a lump sum of money to buy insurance on an exchange, instead of providing coverage directly...
Read more at http://eaglerising.com/6407/bombshell-white-house-rules-employers-cant-dump-workers-obamacare/#fLZmaHMZpr32SMlm.99