A Financial Times article on ObamaCare as it starts to hit businesses. They started complaining too late. Cue up Connie Francis.
The interesting thing: the writer of this story does not "get it." The employer does not determine the number of "full-time" employees; the IRS determines the number of "full-time" employees by dividing total number of employee-hours worked, divided by 120 (as in 120 hours/month).
So, if one has 100 "part-time" employees, each working 20 hours/week (well below the 30-hour threshold), the employer may think he/she has 100 "part-time" employees for which health insurance coverage is not required.
In fact, 100 x 20 = 2000 hours x 4 weeks = 8,000. Divide by 120 = 67 "full-time" employees for which the company is required to provide health coverage, at $2,000/full-time, or in this case, $2,000 x 67. Very, very clever, how the law was written.
This random note is archived at ObamaCare.
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