OBAMACARE: THE ELEPHANTS IN THE ROOM

When I previously expressed my reservations about Obamacare, they centered around two points: the unfunded costs of “magically” expanding coverage, and increasing the role of a monstrously inefficient bureaucracy in the health care market. I’ve read snippets of the thousands of pages, but I admit I don’t fully comprehend the new law beyond the understanding that there are oodles of fees and additional charges (read: new taxes) buried in the bill, and that much of the controversy has centered on a federal mandate to purchase individual insurance. I’m in good company, though, as most members of Congress reportedly haven’t read the bill and likely don’t understand it, either. When I realized that businesses could opt out of insuring an employee for what seemed to be the miserly sum of $2,000, driving their employees into the open arms of government insurance, I (cynically) assumed that this was the true intent of the legislation—a back-door to socialized medicine.

It appears that there are greater ramifications to the new law than I appreciated. Fear of the unknown is stifling growth in the business community at a time when we desperately need new jobs. Even the $2,000 opt-out becomes unaffordable when a mandate to insure part-time workers is thrown into the mix. A brief, cogent summary of the issues, well worth a couple of minutes of your time, can be found here.

The truth is, we desperately need health care reform, just as we need economic and tax reform. These changes need to be bold, but they also must be done right, with attention to the law of unintended consequences.

I guess, by this reckoning, Obamacare is halfway there.

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