During the runup to the 2012 general election, some business leaders were feeling antsy. “Everyone’s looking for a way to not have to provide insurance for their employees ,” said John Metz, who is an owner of at least 45 fast food restaurants, in a Fox News interview soon after President Barack Obama’s re-election. “It’s essentially a huge tax on all us business people.”
During and immediately after the election many employers in the low-income service sector warned about dire effects the Affordable Care Act would have on employment and prices. The jerry-rigged, patchwork healthcare reform Obamacare tries to mend America’s long-standing coverage gaps with a variety of tools, including expanding Medicaid, establishing state-based exchanges supported by public assistance, and granting small businesses (25 or fewer employees) subsidies to provide insurance for their employees. But larger businesses (50 employees or more) are incentivized to provide coverage with a stick: Pay a $2,000 fine per employee who works more than 30 hours and lacks insurance.
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