While employee benefits don't have to be offered by business owners to their workers until at least January 15, resulting from the postponement of the employer mandate, it's already cost the healthcare industry more than $12 billion.
That's according to a recent report released by the Congressional Budget Office. As detailed in the non-partisan organization's analysis, most of the cost derives from the $12 billion that would have been collected in penalties, presumably resulting from employers who didn't make health coverage available to their workers.
Furthermore, contrary to what supporters of the Patient Protection and Affordable Care Act have claimed, fewer people will get their health coverage through their workplace once the ACA goes fully into effect.
"Of those who would otherwise have obtained employment-based coverage, roughly half will be uninsured and the others will obtain coverage through the exchanges or will enroll in Medicaid or the Children's Health Insurance Program," the CBO report stated.
July 30 marked the 48th anniversary of the Medicare and Medicaid programs becoming U.S. law. According to the Department of Health and Human Services, Medicaid provides health coverage to an estimated 57 million people.
