AOL CEO: Obamacare Will Cost AOL $7.1 Million


Tim Armstrong, AOL Chairman and CEO, told CNBC that the high cost of Obamacare is forcing his management team to decide whether they will cut employees’ benefits.

Obamacare will cost AOL $7.1 million.

Armstrong explained AOL’s predicament: “We have to decide whether or not to pass that expense onto employees or whether to cut other benefits…As a CEO and Management Team, we had to decide ‘Do we pass the $7.1 million of Obamacare costs to our employees or do we try to eat as much of that as possible and cut other benefits?’”