"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Friday, August 19, 2016

20% of Manufacturers in NY Cutting Jobs Due to Obamacare

Bye Bye Jobs
Jobs vanish like a fart in the wind.

(Washington Free Beacon)  -  One in five manufacturers in New York said they were reducing the number of their employees due to Obamacare, according to a survey from the Federal Reserve Bank of New York.
The survey asked businesses how the Affordable Care Act has affected them, including questions about health coverage costs, how health plans would change under Obamacare, and how the Cadillac Tax would apply to their current health care plans.
The number of manufacturers who said they were cutting jobs totaled 20.9 percent. Nearly a third of New York manufacturers said they would increase prices they charge on their customers due to Obamacare. Almost 13 percent said they would increase the proportion of employees working part-time.
The survey asked service sector firms the same questions and found that 16.8 percent of them would cut workers, 21.4 percent would raise prices due to Obamacare, and 15 percent said they would increase the proportion of employees working part-time.
“About 60 percent of respondents to the surveys said they are making at least some changes to their health care plans in response to the Affordable Care Act,” the New York Fed stated. “The most frequently cited adjustments were raising deductibles, boosting co-pays, and increasing out-of-pocket maximums.”
Manufacturers and service firms estimated that their health coverage costs increased by 8.5 percent this year and are expecting a 10 percent increase next year.
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