The Democratic Healthcare bill forces employers of all sizes to either insure their employees in a plan meeting the bills “qualifying” standard, or lacking that offering to pay into a fund that provides public health insurance. The “lack of coverage” penalty is 8% for any company with a payroll over $400,000 annually. Naturally, little companies are thrown a bone with ramping scale:
If the annual payroll of such employer for
the preceding calendar year:
The applicable
percentage is:
Does not exceed $250,000 ………………………………. 0 percent
Exceeds $250,000, but does not exceed $300,000 2 percent
Exceeds $300,000, but does not exceed $350,000 4 percent
Exceeds $350,000, but does not exceed $400,000 6 percent
What I will, of course, do is make most of my people subcontractors so that they earn less than $250K a year and thus get free insurance.
This plan will kill private insurance. We will all then be subject to government fiat.