Holy Moly, mother of goodness!
HI Immie! Where have you been, besides more than likely playing some newest and latest video game? All is good with me and Matt!
Bet ya 10 to 1, the penalty fees will go up....if employers start to jump ship....
And, there is more involved than just the $2000 penalty tax per person, so it's not as big of a difference than you may think... if looking at the full picture...
1- The $2000 penalty per person is not tax deductible as a business expense, Whereas the $5500- $6500 a year for employee insurance is counted as a business expense and is NOT taxable...if the business is in the 35%-39% tax bracket, it makes it where it is not as big of a spread....and without their employees getting any benefit...and without the employer being able to recruit the best people out there to work for them since they have no insurance benefit...
For the record, the cost for insuring a family is closer to $13,000 a year. Of course, many companies only pay for the employee portion while some pay for part of the family portion. Forty percent of $6500 is $2,600 making the cost of paying for insurance double the cost of paying the tax. The reason that most employers even offer health insurance is to entice workers to work for them. Health insurance is nothing more than compensation they pay to hire the people they want and keep them from going elsewhere. When employees can, strike that, must, get their own insurance and can do so at government expense (subsidies) many companies will start dropping their coverage. At least, that is what I expect.
It makes sense. Let the government cover the brunt of the cost of insuring the employees. Employees won't need the employer to cover their health insurance, the government will do it for them thus the need of offering health insurance to entice employees to come work for you will diminish.
As for my absence, yes some of it has been gaming, but honestly, I needed a break from the hostility of the site.