Terrie Ballman, Service Manager at Joslin & Son Signs, a sign company in Nashville, Tennessee, says that employers who offer healthcare are being hit with a major rate hike.
The National Federation of Independent Businesses estimates that premiums could be 70 to 100 percent higher, due to various taxes associated with Obamacare.
Ballman told WZTV-NAZ, “Our part is going to substantially increase and it's for coverage that's not even as good as what we have now.”
Joslin & Son Signs is unable to hire more employees because under the Obamacare law, companies employing 50 workers or more must offer their employees health care insurance. The sign company currently employs 49 workers.
Another business, Richards and Richards, a document storage company, is also experiencing the harmful effects of Obamacare. The price of their insurance is set to drastically increase.
Steve Richards currently pays 100 percent of the healthcare costs for his employees, but told WZTV-NAZ that in 11 months, they will be forced to make a huge decision–pass on the hefty costs of health insurance to their employees or let their employees go. Should they be forced to let employees go, customer service will ultimately suffer because there will not be enough workers to attend to business, Richards says.