H.R.3590: Patient Protection and Affordable Care Act

During yesterday’s Ohio Obamacare sale-a-thon, President Obama stated that employers “would see premiums fall by as much as 3,000 percent” if his health care reform was signed into law. A premium decline of 3,000% means that employers would receive in income 29 times what they spend on health care premiums. So to make $29 million, all a business needs to do is hire 100 employees and provide them with health insurance at a cost of $10,000 per employee (a total cost of $1 million). Once Obamacare becomes law, these premiums will decline by $30 million — meaning that the health insurance companies will pay the employer $29 million for the privilege of providing health care insurance to the employees. A $29 million profit all without making a single product. Just think of how many jobs that could “create or save.” Obamanomics at work.

Source: Video: Obama Makes Whopper Claim at Rally

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