Saturday, July 28, 2012
Now what next for health care?
Now that the U.S. Supreme Court has upheld the Health care law with some restrictions, now what is the next step for it? Nobody knows for sure since conflicting statistics are coming out recently with the restricted upheld that more than 3 million more people will remain uninsured and also some of the companies are planning to drop their health care coverage for their employees since there will be more competition. There is also much anxiety about how the small businesses will react since companies with more than the stipulated number of people will have to buy insurance or pay a penalty for each employer (which is not that much as compared to the health care insurance). Then there is the case of the Republican Party pledging to repeal the whole health care law if they win the White house without any specific plan to replace it with. The whole thing will start to unravel next year depending upon who wins the White house and starting in 2014 the full force of the law will take effect. It is these kinds of uncertainties about the taxes and the whole ideological clash between the two parties that is creating much confusion and wait and see attitude on the part of the businesses and as it has been said in numerous articles this is the main cause of the uncertain growth of the U.S. economy.