ObamaCare continues to wreak havoc across America as premiums have skyrocketed, the nations largest insurers have abandoned Obamacare, and now according to The Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York, companies are reducing jobs in response to the rising healthcare costs spurred on by the failed law.
As executives expect healthcare costs to continue to rise, companies will be forced to slash workers for their payroll, increasing unemployment and curbing economic growth. The Wall Street Journal reported that according to the survey, nearly 20% of service sector and manufacturing company executives said they plan to reduce their workforce because of ObamaCare.
The survey also said 60% of respondents said they would be making some kind of charges to their healthcare plans because of the costs mandates in ObamaCare:
About 60 percent of respondents to the surveys said they are making at least some changes to their health care plans in response to the ACA. The most frequently cited adjustments were raising deductibles, boosting co-pays, and increasing out-of-pocket maximums.
Companies, insurers, and individuals are fighting to cope with the tremendous consequences of ObamaCare.
With premiums increasing, companies cutting jobs, and insurers deserting the exchanges, individuals will see what ObamaCare for what it truly is –a failed experiment with the Democrats’ big government policies, leaving individuals with fewer options for health care at a higher price.