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AT&T will take $1B non-cash charge for health care

NEW YORK (AP) - AT&T Inc. said Friday it will take a $1 billion non-cash charge in the first quarter related to the health care overhaul.

AT&T's charge is the largest announced so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses.

AT&T said the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health care overhaul will make a subsidy that companies receive for retiree drug coverage taxable in 2011.

http://www.breitbart.com/article.php?id= D9EMG00O1&show_article=1

Negative impact of ObamaCare already kicking in

Remember, the so-called 'benefits' of the program will not begin until 2014. But the fees, taxes, and other surcharges that are essential to the plan go into effect immediately.

This has led to some disturbing consequences just within the last 24 hours.

Karl Denninger via WRSA reported this:

From the forum:

"So I just got a call from my health insurance provider. My family rates are going up $200/month ... $2400/year per employee effective April 1st. Didn't take long after signing to get this s**t going.

So much for the "my plan will save Americans" $2500/year in Healthcare premiums.

****** liar in chief. "

This is not the only troubling development as a consequence of ObamaCare. A local radio station in the Upstate of South Carolina, which has a call-in show each afternoon, was inundated with calls Tuesday afternoon concerning hospitals turning away Medicare patients this week.

One elderly woman was sent home from the emergency room after the bare minimum of treatment with a fever of 103 degrees. When she was forced to return to the emergency room within 24 hours, due to the fact that she was not adequately treated the first time, the doctor informed her they could not give her care because it was 'too soon after her initial treatment.'

Some careful research on this issue uncovered a little-known, unreported matter involving government control of healthcare. According to none other than the Senate's late champion of socialized medicine, Ted Kennedy, much of the excess cost of Medicare comes from readmissions within 30 days of initial treatment. Thus, proponents of government control of healthcare costs advocate limiting readmissions.

And what, precisely, was the 'fix' for that cost run-up? Ban Medicare recipients from receiving follow-up care within 30 days of their initial treatment as part of government-run healthcare.

In anticipation of these homicidal measures being implemented once ObamaCare kicks in full-steam, apparently the government is getting in some early target practice on denying care for the elderly.

WRSA raises another critical issue:

I suggest that each reader who is employed and currently has health insurance check with your human resources department about the immediate/near-term impact of Obamacare on your benefits package.

At BigDumbCo, we were told in December by one of the big dogs that passage of either the House or the Senate bill would gravely imperil the company's willingness to offer health insurance, due to the financial impact.

If that is true (and please check with your own management team), Team Freedom has a helluva recruiting opportunity coming up with the folks who didn't think Obamacare really mattered to them.

So not only is care already being rationed for the elderly and insurance premiums skyrocketing in just 48 hours, but the grand plan of Obama and the Democrats will result in companies dropping healthcare coverage for their employees altogether.

http://www.examiner.com/x-37620-Conserva tive-Examiner~y2010m3d24-Negative-impact -of-ObamaCare-already-kicking-in

AP: Say, guess what we just found in ObamaCare!

Congress passed the bill without knowing what was in it. Barack Obama signed it without reading it. Now it looks as though the Associated Press reported on ObamaCare without comprehending its content. Readers will have to scroll far down to discover that the elimination of a key tax break that kept retirees on company prescription-medication plans will mean dumping millions of seniors onto Medicare — and that the AP ignored it until now:

The health care overhaul will cost U.S. companies billions and make them more likely to drop prescription drug coverage for retirees because of a change in how the government subsidizes those benefits.

In the first two days after the law was signed, three major companies — Deere & Co., Caterpillar Inc. and Valero Energy — said they expect to take a total hit of $265 million to account for smaller tax deductions in the future.

With more than 3,500 companies now getting the tax break as an incentive to keep p
-continued

With more than 3,500 companies now getting the tax break as an incentive to keep providing coverage, others are almost certain to announce similar cost increases in the weeks ahead as they sort out the impact of the change.
Figuring out what it will mean for retirees will take longer, but analysts said as many as 2 million could lose the prescription drug coverage provided by their former employers, leaving them to enroll in Medicare’s program

http://hotair.com/archives/2010/03/26/ap -say-guess-what-we-just-found-in-obamaca re/

The best part is you knew it was a huge disaster i knew it but the Democrats in order to serve their master Obama took one for the team and now they own it , all of it . One of the worst bills ever and in a time when we REALLY are running out of money to pay for other government programs ....

I said it before , in a way im glad they did pass it because they just set themselves up big time
sadly there will be alot of collateral damage

2010-03-26 12:53:25 by bmovies60

The New York State Association of Health Care Providers, Inc. (NYSHCP) is a statewide trade organization representing home care and community ...