B
BillP
Guest
Well that implies that they have 300 employees. Let assume that they pay somewhere between minimum wage (14,500 per year) and the median HH income for the state of Alabama (42,000 per year). Their direct labor budget is therefore between $4.3 million and $12.6 million per year.EWTN would be fined some $600,000 in the first year!..and it would increase in the following years.
The Penalty will cost them an additional 5% to 14% of their labor budget. Note this assumes that they do not fund for their employees health insurance now. If they do spend money on insurance coverage now, they should deduct that amount from the equation.
Big deal.
Oh, and note, that even if they get an exemption from the providing the disputed coverage, they will still incur the costs of providing the health insurance that doesn’t include it, which will cost exactly the same (or more!) as the coverage that does.
How do they come out ahead if they get an exemption?