Obamacare forcing Boeing to cut back employee coverage

Boeing Aerospace provides its employees with good medical insurance coverage.  That is cause for the Federal government to punish Boeing with a 40% tax on the value of the plan above the $10,200 per person limit (or $27,000 per family limit) set by Obamacare law.  To reduce the value below that threshold, AP reports that Boeing will increase the deductibles and copayments that its employees must pay:

Deductibles, the share of medical costs that [Boeing] employees pay annually before their plan kicks in, will go up to $300 for individuals, an increase of $100. For families, the new deductible will be $900, an increase of $300.

In addition, Boeing is instituting a copayment of 10 percent after the deductible has been met. The copayment will rise to 20 percent in 2012.

The authors of Obamacare thought that their 40% excise tax would raise the revenue that they needed to fund other provisions.  If other companies behave as Boeing plans to, and it is rational for them to do so, the tax will likely raise little to no revenue.  Even before the law is fully in effect, we have yet another Obamacare fail.

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