Sunday, February 17, 2013

Obamacare Disaster Looming




I'm not an $800 per hour ERISA lawyer but I"ve litigated ERISA cases in the past and I'm knee deep in trying to figure out how badly Obama screwed me, my family and my little company and I've reached conclusions very similar to those detailed by Colleen Medill in the email to Professor Glenn Reynolds.  


I am deeply into studying the impact of Obamacare on employers, and I have been communicating with highly sophisticated ERISA lawyers who are advising employers, from Fortune 50 companies to small firms under 50 employees, on whether to keep or drop or modify their employer group health plans.

It has become very clear to everyone involved who is analytical and not ideological that the rational strategy, for both large and small firms, is to cease providing health care insurance to employees.

No company wants to admit that they are considering eliminating health insurance as an option, or be the first one to drop their health insurance plan, but once a competitor does so, the preference cascade will begin. The clear sentiment is “We will not be the first one to drop our health insurance plan, but we would be a close second.”

The coming preference cascade for employer group health plans is what the Democrats fear the most, because Obamacare was sold to the masses as “if you like your health insurance plan, you can keep it.”

The people who really know the law, and who have been following the avalanche of regulations, have already figured this out. It will take a while for this specialized knowledge to seep downward, because right now only $800+ an hour ERISA attorneys and the most sophisticated HR people understand how Obamacare really works.  


Sadly, the disaster has only just begun.  Liberals never seem to think things through.  Or maybe they do!

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James L. Salmon, Esq.
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