Please explain to me how this is good for buisness?
By Daniel at 23 December, 2009, 10:10 am
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
“In their rush to pass massive health care reform before Christmas, Senate Democrats included a last-minute provision overtly targeting the construction industry, including home builders,” the National Association of Home Builders said in an email alert to its 200,000 members Monday. “In order to find the 60 votes needed to pass health-care reform, a provision was slipped into the health-care bill to exclude the construction industry from the small business health-care exemption contained in the bill.”
Employers with more than 50 employees would be required to offer insurance or pay a fine of up to $750 per employee if any employee obtains federal subsidies for coverage. But the builder group says the bill singles out the construction industry by “only giving construction firms an exemption from the bill’s employer mandates if a firm employs less than five people. Every other industry is granted an exemption if they have fewer than 50 employees.”
So insurance companys stocks are up?
Please explain to me why this is good for insurance companys stocks.
http://online.wsj.com/article/SB
The Senate bill calls for a nearly $70 billion tax over 10 years on insurance companies, plus a $2 billion-a-year tax on medical devices. Billions of dollars are also meant to be raised from added taxes and fees on wealthier seniors, higher-end insurance plans and tanning salons.
Companies of all sizes have been increasingly burdened by health-care costs, which topped $400 billion in 2007, according to data from the Employee Benefit Research Institute. Unrestrained, that figure is expected to double by 2017. About 70% of workers receive health insurance through their employers.
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.