From WSJopinion: A pair of provisions in Joe Biden’s health-care plan would take 24 million people off employer coverage and cost $2.2 trillion over 10 years, writes ChrisJacobsHC
By Chris Jacobs Sept. 21, 2020 1:23 pm ET In the summer of 2008, the Obama-Biden presidential campaign ran the most-aired ad of the decade, “Unravel,” alleging that Sen. John McCain’s policy proposals would dismantle employer-based health coverage. Twelve years later, that ad takes on an ironic tone for President Obama’s vice president. As I outline in a new report, Joe Biden’s health plan could pull apart the system by which most Americans receive insurance.
The combination of lower premiums and deductibles would encourage significant switching from employer insurance to the exchanges. Virtually all households with incomes below 200% of the poverty line could save more than $100 a month, and some above that threshold would save, too.
Second, businesses could face higher taxes. Under ObamaCare, large firms that offer employer coverage face a per-worker tax of approximately $4,060 in 2021 if their workers receive federal exchange subsidies. Unless Congress modifies this employer mandate—a change Mr. Biden hasn’t publicly supported—businesses whose employees voluntarily switch out of employer coverage will face an estimated $481 billion in new taxes over 10 years.
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