Obama Lied (Again): Leaked Draft Treasury Docs Show Most CANNOT Keep Their Existing Health Care.
In a late Friday afternoon blog post followed by a fuller early evening report, David Hogberg and Sean Higgins at Investors Business Daily confirmed that Obama’s never-credible core promise is on the brink of being shattered, and that the employer-related calculations by Cato’s Cannon were essentially correct (graphically illustrated by IBD at the top right):
Internal administration documents reveal that up to 51% of employers may have to relinquish their current health care coverage because of ObamaCare.
Small firms will be even likelier to lose existing plans.
The "midrange estimate is that 66% of small employer plans and 45% of large employer plans will relinquish their grandfathered status by the end of 2013," according to the document.
In the worst-case scenario, 69% of employers — 80% of smaller firms — would lose that status, exposing them to far more provisions under the new health law.
…. The 83-page document, a joint project of the departments of Health and Human Services, Labor and the IRS, examines the effects that ObamaCare’s regulations would have on existing, or "grandfathered," employer-based health care plans.
Draft copies of the document were reportedly leaked to House Republicans during the week and began circulating Friday morning. Rep. Bill Posey, R-Fla., posted it on his Web site Friday afternoon.
… In a statement, Posey said the document showed that the arguments in favor of ObamaCare were a "bait and switch."
… (A White House) source conceded: "It is difficult to predict how plans and employers will behave in the coming years, but if plans make changes that negatively impact consumers, then they will lose their grandfather status."
… In total, 66% of small businesses and 47% of large businesses made a change in their health care plans last year that would have forfeited their grandfathered status.