Nov 9, 2015
The Affordable Care Act requires companies employing 100 or more workers to offer employer-paid health care. But the law allows companies to set the workers’ premium as high as 9.5 percent of workers’ pay. Most companies that didn’t offer insurance before are setting the workers’ premium at the maximum, discouraging workers from enrolling.
An example is the Golden Corral restaurant franchise, which offers health insurance to 600 workers in several states. The workers’ monthly premium is $140. Only two workers signed up! According to insurance companies, less than 10 percent of low paid workers are buying the insurance, and at many companies, only 2 percent are buying it. Not surprisingly, the total number of workers with employer-offered insurance hasn’t risen at all under this healthcare law!