TrainWreck: Rembrance Of Things Past -- Instant Karma

Citing Proust's Remembrance of Things Past is a stretch, and only a few will probably get the connection. It has to do with the development of the 401(c) retirement plan.

Probably an even better analogy is the old joke about the boy who finds his bedroom full of horse manure, and begins digging furiously: "With all this horse manure, there has to be a horse here somewhere."

It appears some smart folks have been scouring the ObamaCare law and have discovered that they can meet the requirements by providing minimum of healthcare coverage. When you read the details, it all makes sense. [Page A1, WSJ.]

[By the way, when a federal bill is several pages thick, the opportunity to find loopholes and errors is huge.]

East Coast healthcare policy geeks were always excited with preventive health care, so it makes sense. By providing mostly preventive health care coverage (and NO hospital coverage), employers can meet the requirements of the law AND not go broke in the process.

There will be a lot of legal wrangling and employers will nibble away at the benefits, probably pushing the envelope to the point where plans will be be decided by courts. The problem, of course, is that it will take years for these cases to be settled in court. In the meantime, employers will provide minimum healthcare coverage and meet the requirements.

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