project obama Care

project obama Care - Marlon Granados Dr Carlos Sevilla...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Marlon Granados Dr. Carlos Sevilla Microeconomics 21th, nov, 2016 Did the Obamacare affect the business economy and taxes? The first provisions of the Affordable Care Act were implemented in 2010 and focused primarily on coverage expansion and consumer protections. These included provisions that allow young adults to stay on their parents’ policies until they turn 26; implementation of temporary insurance programs for people with preexisting conditions and for early retirees. The new health care law will impose new compliance regulations, employer mandate taxes, and numerous indirect costs on small- and medium- size companies. For Scott Womack, the owner of a dozen IHOP restaurants in Indiana and Ohio, these are obstacles that will likely prevent him from expanding his business and hiring new employees an alternative solution can be give the employers more choices for assisting their workers with purchasing health insurance through defined contributions, not government mandates and penalties. Some Facts about the Obamacare according to the Congressional Budget Office, there is an estimates that the Obamacare subsidies will discourage Americans from working, and cause 2.5 million employees to drop out of the labor force. While Obamacare's employer mandate will raise the minimum cost of hiring a full-time worker to $10.30/hour in 2015. Congress has already raised the minimum wage from an employer’s point of view, but the money goes to the government instead of the employees. Americans who can afford to obtain minimum essential health coverage must do so or get an exemption. If they do not, they will have to pay a per-month fee this is call the individual mandate tax, another tax
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
create by the Obamacare is the employee mandate tax and consist that large employers with more than
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern