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Old 07-10-2010, 06:09 AM
 
Location: Tennessee/Michigan
27,994 posts, read 46,359,104 times
Reputation: 19398

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WASHINGTON, D.C. - The White Castle hamburger chain fears that a health insurance reform law adopted earlier this year will put its profits on a downward slide.

The Columbus-based family owned restaurant chain - known for serving small square hamburgers called "sliders" says a single provision in the bill will eat up roughly 55 percent of its yearly net income after 2014.

Ohio hamburger chain says insurance reform will bite into profits | cleveland.com
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Old 07-10-2010, 07:01 AM
 
Location: South Fla
9,644 posts, read 8,339,573 times
Reputation: 1942
Thanks for Sharing.

This is going to be the case for many. I guess its going to take actually hitting rock bottom before they start to realize supporting this might not have been the best idea.

I dont get how many more companys/business its going to take for some to start to question or even worry or think , Hey we might have a problem here.
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Old 07-10-2010, 07:03 AM
 
Location: Central, IL
3,408 posts, read 3,459,947 times
Reputation: 1371
For many businesses it will be cheaper to pay the fine for not offering healthcare then it will be to pay what will be a large increase in premiums.
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Old 07-10-2010, 07:31 AM
 
Location: South Fla
9,644 posts, read 8,339,573 times
Reputation: 1942
Quote:
Originally Posted by rhawkins74 View Post
For many businesses it will be cheaper to pay the fine for not offering healthcare then it will be to pay what will be a large increase in premiums.
Which will put another burden on the middle class.
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Old 07-10-2010, 07:52 AM
 
Location: Central, IL
3,408 posts, read 3,459,947 times
Reputation: 1371
Quote:
Originally Posted by Jadex View Post
Which will put another burden on the middle class.
You are absolutely correct.

I am struggling what to do for my employees. It would be cheaper for me, to pay the fine, but I don't want to do that to my employees.
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Old 07-10-2010, 08:05 AM
 
Location: South Fla
9,644 posts, read 8,339,573 times
Reputation: 1942
Quote:
Originally Posted by rhawkins74 View Post
You are absolutely correct.

I am struggling what to do for my employees. It would be cheaper for me, to pay the fine, but I don't want to do that to my employees.
You are having to make a very tough decision you shouldnt have to make
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Old 07-10-2010, 08:16 AM
 
34,990 posts, read 33,858,849 times
Reputation: 6156
"[Many or most of White Castle's] workers pay more than 9.5 percent of household income in premiums for company-provided insurance," plus White Castle currently pays 70 to 89 percent of their covered employees' premium costs.

Now that's expensive.
"The principle underlying this bill is: if you don't offer coverage and you have workers who the taxpayers are supporting to get their coverage, than you must make a relatively small contribution," says DeParle. "I understand that they don't like it and believe it will cut into their profits, but it is a relatively small contribution to defray costs to taxpayers."

[A restaurant union rep] figures many of the White Castle workers who would end up paying a significant amount of their income for premiums would opt to buy less expensive coverage from a federal exchange.

"Let's not forget that since the worker is declining their coverage, they don't have to pay insurance for that worker.... So they would be saving money at the same time as they are paying the penalty."
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Old 07-10-2010, 08:23 AM
 
26,705 posts, read 14,959,097 times
Reputation: 12548
Quote:
News, Ohio hamburger chain says insurance reform will bite into profits.
Profits- bad
Reliance on government subsidies/bailouts-good
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Old 07-10-2010, 08:28 AM
 
Location: it depends
6,074 posts, read 5,125,327 times
Reputation: 5767
Nancy Pelosi on health reform: "We have to pass this bill so you can see what is in it."

Can we agree, we've seen enough to turn the November 2010 congressional election into a quest to deny votes in Congress for the Pelosi/Obama/Reid agenda?
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Old 07-10-2010, 08:37 AM
 
Location: Fredericktown,Ohio
6,515 posts, read 4,152,670 times
Reputation: 2565
You can take it to the bank that companies and individuals will pay the fine because you know that insurance cpmpanies will raise rates before it kicks in.Thus cutting into profit margins and making it still unaffordable for individuals even with the subsidy.It is amasing that our leaders do not grasp a basic concept that when there is a action there is a reaction.I think i learned that in the 3rd grade
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