IBD Poll: 65 Percent of Americans Oppose Bailing Out Insurers If Obamacare Can't Draw Enough Young Customers

The front page of Friday’s Investor’s Business Daily carried bad polling news for Obamacare. John Merline reported: “The public overwhelmingly opposes any ObamaCare bailout of the insurance industry, the latest IBD/TIPP Poll found, even as the Obama administration is paving the way to do just that.”

You might not see this poll elsewhere, but it found that 65 percent oppose a federal bailout of insurance companies if their profits take a hit because not enough young, healthy people sign up for ObamaCare plans.

Opposition is widespread, the poll of 907 adults found, with 51% of Democrats, 71% of Republicans and 76% of independents against it. It's opposed by every age and demographic group as well.

Although few people knew about it until recently, the health law contains a three-year "risk corridor program" designed to bail out insurers if costs were higher than anticipated from too few young people enrolled.

The administration planned on 2.7 million young enrolling in the first year. Early data show that relatively few are doing so. And a Harvard University survey found less than a third of young uninsured say they plan to buy an ObamaCare exchange plan.

Merline added that Gary Cohen, a top official at HHS, told the industry not to worry, since, as he put it in a letter to state insurance commissioners, "the risk corridor program should help ameliorate unanticipated changes in premium revenue." He concluded: “Translation: Taxpayers will bail the industry out of any costs created by Obama's ‘fix.’”

Via: Newsbusters.org

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ObamaCare Employer Mandate: A List Of Cuts To Work Hours, Jobs

ObamaCare's impact on jobs is hotly debated by politicians and economists. Critics say the Affordable Care Act, with its employer mandate to provide health insurance, gives businesses an incentive to cut workers' hours. This year, report after report has rolled in about employers restricting work hours to fewer than 30 per week — the point where the mandate kicks in. Data also point to a shrinking workweek in low-wage industries.

In the interest of an informed debate, we've compiled a list of job actions with strong proof that ObamaCare's employer mandate is behind cuts to work hours or staffing levels. As of Sept. 3, our ObamaCare scorecard included 258 employers. The ObamaCare list methodology is explained further in our initial coverage; click on the employer names in the list below for links to supporting records, mostly news accounts or official documents.

We'll continue to update the list, which we encourage you to share and download into a spreadsheet to sort and analyze. If you know of an employer that should be on the list and can provide supporting evidence, please contact IBD at jed.graham@investors.com.

Click on Hear for List of Employers who cut hours.

Via: IBD:

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STARBUCKS CEO: OBAMACARE 'GOOD THING FOR THE COUNTRY'

Starbucks CEO Howard Schultz says Obamacare is "a good thing for the country." 

The coffee giant chief's comments came during a CNBC interview with anchor Maria Bartiromo. 

"On balance, I would say the health care law, to provide health insurance for those people who did not have it, was a good thing for the country and a good thing for those people, and I would encourage them to find ways to provide the insurance and not figure out a way to either lower the hours or get around the system," said Schultz.

Schultz blasted businesses that are reducing worker hours to avoid Obamacare fines.

"Many companies today are reducing hours of full-time people to get under the minimum so they don't have to pay health care costs," said Schultz. "I just shake my head because that's not going to build long-term value and trust with your people. That is a short-term solution and ultimately is not going to add value to the enterprise, the company and your customers."

The Congressional Budget Office (CBO) estimates that employers will be forced to pay $130 billion in Obamacare penalties. 

Investor's Business Daily has compiled a growing list of 258 employers who have slashed worker hours or laid off workers in reaction to the law's regulations.

Via: Breitbart

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