Thursday, April 3, 2014

OBAMACARE and its effects on employment

This week the Obama Administration reached their target goal of 7 million Americans signed up under the Affordable Healthcare Act and healthcare.gov, a substantial feat to what most conservatives claimed as nearly impossible.  Also the expansions in Medicaid have provided millions more with benefits that will provide security for them in the future.  Also the fact that millions of people that already had insurance will be able to keep their health insurance even if they are terminated from their employment. So essentially people can continue to gain health insurance and work less hours or part-time, as people begin to opt out of working full-time the labor market is likely to see a demand for new workers and in turn higher wages from the supply and demand cycle of the US job Market.  A writer for the Guardian Dean Baker claims that there are going to be signs that the ACA is coming into full effect the first is that we will see an increase in the quit rate throughout the US as people can keep their coverage without being employed, next there will be a rise in people who voluntarily will work part time under 35 hours a week.  Another aspect to this series is that people who are elderly will decline in the workforce especially between the ages of 54-66 as they can retire and keep their coverage, and lastly the number of self-employed workers and the amount of small businesses will increase as well.

IS the Affordable Healthcare Act really as bad as conservatives make it out to be? I'm playing the devils advocate obviously so pick a side guys!!

http://www.theguardian.com/commentisfree/2014/mar/31/obamacare-deadline-signups-plan-keep-wages-up

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