Tag Archives: Perverse Incentives

Why Obamacare Will Result in a Decline in Cash Wages

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EPJ13

“The least-skilled workers are seeing their wages fall over time, largely because they are out of work and failing to acquire the skills that come with working. Moreover, the new health care regulations going into effect in January are expected to reduce cash wages, as many employers of low-skill workers are hit with per-employee fines of about $3,000 per employee per year, as the law mandates new fringe benefits for other employers and low-skill workers have to compete with others for the part-time jobs that are a popular loophole in the new legislation.”

http://www.economicpolicyjournal.com/2013/03/why-obamacare-will-result-in-decline-in.html

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CVS requires employees to report weight or pay a fine under new health care rules

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“CVS pharmacy company is requiring all employees to submit detailed health profiles to their insurance company or pay a monthly fine to continue receiving health coverage. According to ABC News, all employees must submit their weight, body fat levels, blood glucose levels and other vital statistics before May 1, 2014, or face a monthly $50 fine — $600 per year.  Employees who comply with the testing, the company said, will see no change in their monthly insurance rate. Those who do not will pay the fine or risk being dropped from their health plan.”

http://www.rawstory.com/rs/2013/03/20/cvs-requires-employees-to-report-weight-or-pay-a-fine-under-new-health-care-rules/

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CBO: Up to 20 Million Could Be Pushed Off Employer Health Insurance Because of Obamacare

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EPJ13

“In February, the Congressional Budget Office said that 7 million will likely lose their employer coverage thanks to ObamaCare — nearly twice its previous estimate. That number could be as high as 20 million, the CBO says.  In December, state insurance commissioners warned Obama administration officials that the law’s market regulations would likely cause ‘rate shocks,’ particularly for younger, healthier people forced by ObamaCare to subsidize premiums for those who are older and sicker.”

http://www.economicpolicyjournal.com/2013/03/cbo-up-to-20-million-could-be-pushed.html

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Obamacare Horror Story #2

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EPJ13

“The news has just gotten worse on the Obamacare front. A friend tells me about terrible news his wife received on Friday. She is a college professor on a non-tenure track. The college just notified their non-tenure track teachers that because of Obamacare they will not be able to continue to employ them on a full-time basis. My wife’s friend is now teaching 5 courses. Starting in the Fall, she will only be allowed to teach 3 courses and she will not be allowed to teach summer school classes.”

http://www.economicpolicyjournal.com/2013/03/obamacare-horror-story-2.html

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Companies cut hours of full-time employees to avoid providing health care under new rules

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“Three years after the passage of Barack Obama’s signature healthcare law, labor advocates are warning that it could have the unforeseen consequence of harming some of the very low-wage employees it seeks to aid. The legislation’s incentive scheme, they say, could cause a shift toward part-time work that extends beyond companies like Papa John’s and Darden Restaurants, which last year publicized their plans to cut employee hours to avoid costs under the new law.  Such worries are reflected in California, where the state union federation is exploring legislation to lay over the Affordable Care Act to fix the potential problem.”

http://www.rawstory.com/rs/2013/03/29/companies-cut-hours-of-full-time-employees-to-avoid-providing-health-care-under-new-rules/

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Feinstein’s Assault Weapons Bill: Dead on Arrival

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“Feinstein is not just a liberal. She is a California liberal. She is a feminist California liberal. That is, she does not have a lick of political sense.  Her bill is creating the biggest wave of gun buying we have seen in my lifetime. Across the nation, there is massive demand to buy guns. Every time Feinstein opens her mouth, another American who never thought of buying a gun heads for Walmart to buy a shotgun or some other weapon.  Feinstein is the gun industry’s manna from heaven. Like manna in the wilderness, she keeps coming back every day.”

http://teapartyeconomist.com/2013/03/14/feinsteins-assault-weapons-bill-dead-on-arrival/

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United Nations report: ‘Designer drug’ use, abuse and production surging

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“Designer drugs are multiplying at a worrying rate and increasingly sending users to hospital, a UN-affiliated report said Tuesday, calling for international efforts to stem the spread of these substances.  Aggravating the problem further was the fact that these drugs were not subject to international control regimes and were readily available on the Internet, requiring states and international institutions to find new ways to identify the drugs and stop their distribution.  Another problem was the rise in prescription drug abuse, including painkillers, sedatives and others used to treat epilepsy, attention-deficit hyperactivity disorder and mental illnesses.”

http://www.rawstory.com/rs/2013/03/05/report-designer-drug-use-abuse-and-production-surging/

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Southwestern Pa. hospital to stop baby deliveries due to Obamacare

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“A southwestern Pennsylvania hospital will stop delivering babies after March 31 because its obstetricians are either leaving or refocusing their practices, and because hospital officials believe they can’t afford it based on projected reimbursements under looming federal health care reforms.  Hospital officials say the population of women of child-bearing age is dropping and that the number of births the hospital would be called upon to perform isn’t enough for it to provide the service in the face of lower reimbursements under the federal Affordable Care Act.”

http://www.wtrf.com/story/20602422/southwestern-pa-hospital-to-stop-baby-deliveries

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Themes for 2013: Eight trends to follow in 2013 and beyond.

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“Rather than attempt to predict the unpredictable – that is, specific events and price levels – let’s look instead for key dynamics that will play out over the next two to three years. Though the specific timelines of crises are inherently unpredictable, it is still useful to understand the eventual consequences of influential trends. In other words: policies that appear to have been successful for the past four years may continue to appear successful for a year or two longer. But that very success comes at a steep, and as yet unpaid, price in suppressed systemic risk, cost, and consequence.”

http://charleshughsmith.blogspot.com/2013/01/themes-for-2013.html

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Secrets and Lies of the Bailout

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“It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it.”

http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104?print=true

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