8/26/14 Obamacare Costs

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Every month since 1968, the Federal Reserve Bank of Philadelphia has conducted a survey of manufacturers. Participants provide measures of activity at their plants such as employment, working hours, customer orders, costs, sales, and so on.

The just-released August survey included a group of special questions.  The answers provided by manufacturers are deeply troubling.

The special questions focused on the costs of the Patient Protection and Affordable Care Act, known as ObamaCare.

There was no good news.

ObamaCare has caused manufacturers to cut employment by 15.2%.  The amount of work outsourced to other companies increased nearly 11%.  And prices charged to customers skyrocketed by almost 29%. 

Remember, these answers were in response to how ObamaCare has affected the manufacturing industry.

It gets worse.

Employee contributions to healthcare premiums increased 85%.
Deductibles jumped by more than 91%.
Out-of-pocket maximums were hiked 74%.
Co-pays are 62% higher.
The range of medical coverage is 38% lower. 
And the size and breadth of the medical network is down nearly 27%.

Based on these answers, the Patient Protection and Affordable Care Act is protecting fewer people with fewer choices, fewer services and the cost to employees is dramatically higher.

ObamaCare.  It’s not good for business. For people. Or America.

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