WASHINGTON, DC – Uncertainty and increased insurance costs caused by President Barack Obama’s health care law are leading employers to lay off workers and slowing job creation, according to a new report from the Federal Reserve.
The “Beige Book” – which assesses economic conditions in twelve regions across the country – shows how employers are responding to the Affordable Care Act – a.k.a. Obamacare – and the tsunami of new regulations.
According to the report, new rules and regulations promulgated by Health Secretary Kathleen Sebelius – 15,000 pages and counting – are driving premiums higher and increasing burdens on businesses large and small.
Despite the nationwide trends, premiums in Maine have not seen comparable growth, thanks in large part to PL90.