Employers with 50 or more employees have to offer "government approved" plans or pay a $750 tax for every full time employee. You will lose the employer contribution part of your premium, because $750 is cheaper than your insurance. Not really a plan designed to lower costs, provide competition or keep you in the insurance you like now is it?

Now, if a full time employee takes a subsidy for a premium he gets from the "insurance exchange" the employer must pay a penalty of $3000, or $750/employee if 25% or more more of their employees qualify and do the same.

Here are the facts as laid out by the Heritage Foundation:

In summary, if a company employs many low-income workers, it can save money by dropping its health plan and paying the $750-per-employee tax or by reducing as many employees as possible to working part-time. However, if a company has mostly middle-income workers, it faces a $3,000-per-year penalty for hiring a worker from a low-income family who elects the subsidy. Also, this penalty applies to the employee's family income, not the income that the employee is paid by any particular company.

Therefore, a company would save $3,000 by hiring someone with a working spouse or a teenager with working parents whose family income is higher instead of a single mother with three children. Even worse, if one-fourth of its employees qualify for a premium subsidy based on income and family size, the company would still pay the $750-per-employee tax whether it offers insurance or not.

The Senate bill would create many perverse incentives that would encourage companies with many low-income employees to drop their health plans entirely. Unlike the lower-income workers who would qualify for the subsidies, higher-income workers would have to obtain coverage on their own with no assistance.[24]

Not exactly as The One is explaining it is it? Call, write, fax, and email to help stop this thing.

The Senate’s Health Care Reform… I Mean Takeover. The Facts – Part 2 is a post from: NobamaZone