Sunday, July 13, 2014

Delay of employer penalties will cost gov't $10B

July 30. 2013 4:14PM
Associated Press

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(AP) The nonpartisan budget scorekeeper for Congress says the Obama administration's recent decision to delay a health law requirement for larger employers to offer coverage will cost the government $10 billion in fines that won't be collected.

But the Congressional Budget Office says that's a relatively small amount.

As a result of the employer delay and other last-minute changes, the CBO said Tuesday that cost of expanding coverage for the uninsured will rise to $1.375 billion from 2014-2023, an increase of less than 1 percent from its previous estimate in May.

Foes of "Obamacare" say the delay in the employer requirement is a sign that implementation of the law is in serious trouble.

CBO said fewer than half million people would have to forgo coverage as a consequence.

Associated Press

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