White Castle just announced that 55% of it’s net income in 2014 will be eaten up by increased costs, fees, and fines thanks to ObamaCare.
The company now pays 70%-85% of the employee health insurance premium. ObamaCare forces employers that don’t pay at least 90.5% of the premium to pay a $3000 penalty per employee. White Castle employs 10,000 people. It will considerably cheaper for the company to simply drop their group health insurance plan and pay the penalties instead, something they are thinking about doing I’m sure.
Also thanks to ObamaCare, White Castle will spend millions of dollars creating new menus for the drive-thru and walk in customers. The menus must show calorie counts now. Showing calorie counts doesn’t work. People know things are fattening and delicious, that’s why they go to the restaurant to begin with.
White Castle is a perfect example of what we will see across the country in 2014. Employers dropping their group health insurance plans, click here, and paying the fine instead, forcing millions into government controlled programs. The intention of ObamaCare has always been to put private health insurers out of business, and have a single payer government medical insurance plan. Putting the big bad fast food companies out of business is just the cherry on top for this administration. Talk about a jobs killer!
Michael Higgins
602.405.8769
An Arizona health insurance broker.