More companies dropping health coverage, thanks to Obamacare

LBO News from Doug Henwood

Back in 2011, I argued that Obamacare would lead employers to drop existing health insurance coverage and throw employees onto the mercies of the exchanges. (See this post and links therein.) Liberals, including no less than Paul Krugman, denied this. But it’s looking like it’s happening.

Today’s Wall Street Journal reports that Wal-Mart, that paragon of the modern employer, is dropping coverage for 30,000 part-time employees. It joins Target, Home Depot, and UPS, who’ve already cut coverage. And, at the high end, the so-called “Cadillac tax” on generous insurance plans is also leading to cutbacks; JetBlue and FedEx are shifting employees into high-deductible plans.

Obamacare’s popularity

Meanwhile, Gallup finds that more Americans think the cleverly named Affordable Care Act  has hurt (27%) rather than helped (16%) them—though a majority (54%) say it’s had no effect. Almost half (46%) think the ACA will make things worse over the long term, and just…

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