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article imageObamacare to drive health-care cost through the roof

By Christopher Ramos     Feb 2, 2013 in Politics
In the near future American families will be required to purchase health insurance under the Patient protection and Affordable care act.
The IRS has recently announced that the cheapest health-care plan under obamacare, for a family of 5 (two adults and three children) will cost approximately $20,000 a year. If families or individuals fail to purchase health insurance, they will be faced with a tax penalty. Many have already argued that health insurance costs will go up under obamacare; it seems that the IRS announcement confirms said argument.
There are three other plans available under obamacare which include, a silver, gold, and platinum plans.
Under the new health-care law, everyone is required to have health insurance whether through their employers or purchasing directly from the government. Employers with 50 or more full-time employees will be required to provide coverage for their employees. Small business owners are responding by either cutting down on employee hours or stop hiring altogether. Many are starting to project negative effects on the economy brought by the new health-care law.
Mark Zandi, of moody analytics has stated that the new health-care law will have a negative impact on job creation. Obamacare officially begins one year from now, and we will see what effects it brings on the economy.
More about Obamacare, Obama, Healthcare, Patient protection and affordable care act, Irs
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