October 18, 2012

Obamacare is making part time workers out of full time positions

Interesting event has happened to the employees at Forwards Corporation on the Sunrise side of Central Michigan.  Employees have received a letter stating that in order to afford Obamacare, the company must cut back full time employees to part time under 30 hours.  Also revealed is what it will cost families if no coverage.

The company letter to the Employees in part, quote:

"...What are our options as a company?  One option is to provide the minimum insurance required by law for all covered employees and hope that we can increase our prices enough to pay for it.  This is highly unlikely and our competition will ultimately decide this for us.  Another option is to cover some employees and reduce the ours worked below 30 for the others.  If you work less then 30 hours per week you are considered part-time and do not qualify for coverage under the law...

"...What will change for you?  You will be required by law to have health insurance even if you are part-time.  If you are covered by the company you will be required to pay a portion of that cost.  We estimate your cost will be about $1,500/year for single coverage and approximately $3,800/family.  You can refuse the coverage, but you will then be subject to a tax/penalty by the government for not having coverage.  That penalty is $95/adult person(in the family) in year 2014, $325/adult person in 2015 and $695/adult person in 2016.  Dependents under 18 will have a penalty of one half the adult amount.  There are various subsidies built into the law to help low income people, but I don't believe those have been clearly defined at this time and I cannot tell you what those are...

"...Please study this issue for yourself.  There are stark choices between the two political parties in this November election and you will need to vote for the person that best represents your best interest.  President Obama will continue with the current law and Mitt Romney has said that he will repeal and replace it.  Now is the time for you to get informed."