The Franciscan University of Steubenville in Ohio will drop health insurance for students this fall. A spokesman for the school says the move is forced upon them by Obama-care. Currently the basic plan for students is $600. The university’s insurance provider informed the school that premiums are going to double this year and increase again the following year, perhaps tripling.
“At the end of the day, it’s the students who are hurt by this,” said Mike Hernon, vice president of advancement.
Unfortunately more than students at Franciscan University will feel the pain of Obama-care. Numerous other organizations have made similar announcements. Here’s a few more things related to Obama-care:
Earlier this year, buried within Obama’s budget proposal was a 30% increase in cost estimates for one part of Obama-care. Last year’s budget number was $367 billion — this year’s number is $478 billion.
The law set aside $5 billion for a Pre-Existing Condition Insurance Plan, expecting participants to average $13,026 a year in costs based on projections during November, 2010. That projection has been revised up to $28,994 in medical costs.
About a year ago, House Energy and Commerce Committee investigators discovered a little-known provision in Obama-care that allowed the federal government to pay nearly $2 billion to unions and state public employee systems to subsidize health coverage costs for early retirees. Ultimately, this is just more tax-payer money being sent to government unions.
Businesses of 51 or more employees must provide in each of their facilities a private area (not a bathroom) for nursing mothers to pump breast milk for up to a year after giving birth. This means businesses have to re-design their existing facilities and absorb the costs associated with it. How many pregnant women or new mother’s can any employer truly have? Basically, the government is mandating businesses to have reserved space that by and large, will be unused and unproductive.
Tanning salons now have to charge a 10% excise tax on their services.
W-2s must now declare the value of health-care benefits. This means that W-2 forms (and related accounting software, etc.) will have to be re-designed to include the additional information. Costs associated with the conversion are unknown.
“…we have to pass the bill so you can find out what is in it…” – Nancy Pelosi, 60th Speaker of the House, 2007-2011