Showing posts with label Obamacare. Show all posts
Showing posts with label Obamacare. Show all posts
Thursday, February 27, 2014
Obamacare fee…
A Florida chain of restaurants with 500 full-time employees will not cut their workers' hours to avoid a coverage requirement due to the Affordable Care Act. Instead the eight Gator's Dockside eateries will charge customers a 1% ACA Surcharge.
A sign in the restaurants' window states, "The costs associated with ACA compliance could ultimately close our doors." This appears to be negative politicking in the face of increased business costs across the board.
A very recent national drought summary reflects a need for restaurants to keep their bottom line viable. The 'central and southern plains' report notes, "…broad expansions of various categories of dryness for Kansas, Oklahoma, and Texas with Texas alone seeing a 'poor to very poor' condition increase from 28% to 47%.
The 'Mississippi valley' had year-to-date precipitation deficits from northern Louisiana to southern Missouri.
The southwest reported 'lingering pockets of dryness centered on northwestern sections of Alabama and Florida.
The west is hardest hit with extreme to exceptional drought from reserves amounting to only 15% to 22% of normal in various locations. (Reference)
The supply chain must increase its prices to restaurants. The eateries can increase prices or cut portion sizes. However, a surcharge for increased supply costs would be a poor business model.
The electricity price index soared to a new high in January 2014 with the largest month-to month increase in almost four years, according to the Bureau of Labor Statistics. (Reference)
One might predict that the 1% ACA surcharge will accumulate funds to both cover ACA expenses AND increased supply and energy costs. All costs increases associated with continuing to do business "could ultimately close [their] doors." Pinning the plan to raise enough money to keep bottom line status quo fluid on Obamacare is a cheap shot.
Labels:
Affordable Care Act,
Obamacare,
profit margin.
Tuesday, August 13, 2013
Uninsured next year? Here's your Obamacare penalty…
"To try to ensure that people sign up for coverage, the Affordable Care Act carries complex penalties for those who remain uninsured that could cost them hundreds, or even thousands of dollars. Some 6 million people could be hit with these fines in 2016, forking $7 billion over to the federal government, according to the Congressional Budget Office." (Reference)
The penalty will be way less costly than a year's worth of monthly premiums. Yet, the uninsured will be paying for a dead horse. In other words, the penalty payment gets nothing for the person who pays it.
Anyone due a refund at tax time, who is not insured, will see the penalty deducted from their refund amount.
"Among those exempted include: undocumented immigrants, Native Americans and those who earn too little to file tax returns. Also, people who would have to pay more than 8% of their income for health insurance and poor adults who live in states that are not expanding Medicaid also aren't subject to the penalty. The uninsured can also file for hardship exemptions." (Reference)
Luckily, my Kaiser Senior Advantage plan, through Medicare, should remain relatively unchanged. That premium is approximately $100 per month, Nonetheless, simply getting blood tests carries a $30 co-pay per lab visit. Seeing my doctor carries a $20 co-pay per visit.
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The penalty will be way less costly than a year's worth of monthly premiums. Yet, the uninsured will be paying for a dead horse. In other words, the penalty payment gets nothing for the person who pays it.
Anyone due a refund at tax time, who is not insured, will see the penalty deducted from their refund amount.
"Among those exempted include: undocumented immigrants, Native Americans and those who earn too little to file tax returns. Also, people who would have to pay more than 8% of their income for health insurance and poor adults who live in states that are not expanding Medicaid also aren't subject to the penalty. The uninsured can also file for hardship exemptions." (Reference)
Luckily, my Kaiser Senior Advantage plan, through Medicare, should remain relatively unchanged. That premium is approximately $100 per month, Nonetheless, simply getting blood tests carries a $30 co-pay per lab visit. Seeing my doctor carries a $20 co-pay per visit.
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