Here's one place Obamacare won't cost jobs
This occupation is already flooded with new work in anticipation of the Affordable Care Act's regulatory complexity.
A mini-boom in hiring is going on in at least one industry under Obamacare.
Legal firms are boosting their staffs to help clients understand and comply with the Affordable Care Act, which goes into effect in 2014, The Wall Street Journal reports. Corporate clients spent $5.72 billion on legal advice for regulatory issues last year, and spending on those services -- which include health care regulations -- is slated to jump to $6 billion in 2013.
"The more they tinker with the federal regulations, the more work we have," Les Johnson, a partner who specializes in Medicare appeals at law firm Liles Parker, told the newspaper.
The expected boom is quite a reversal from the likes of Regal Entertainment Group (RGC), which earlier this year said in a company memo that it's cutting hours for thousands of salaried employees. The reason? To avoid providing health care insurance under Obamacare's mandates.
On the flip side, hospitals, medical providers and employers are also finding that keeping up with the regulatory changes is like "drinking from a fire hose," Gavin Galimi, the general counsel for vision benefits company March Vision Care, told the newspaper.
One medical equipment manufacturer, for example, spent hours analyzing how Obamacare's provisions, such as a medical device tax, would affect its business. That required more spending on outside attorneys and advisers.
Lawyers are also getting hired to help structure deals and contracts under the Affordable Care Act, given that Obamacare is testing bundled payments that could do away with the typical fee-for-service type of treatment, as Forbes noted earlier this year.
Obamacare is also spurring hiring in one other area: call centers designed to help consumers figure out the new regulations. As many as 9,000 jobs will be created at 14 call centers across the country.
Still, beefing up staffs in call centers and law offices isn't likely to placate critics of the law, given that it's still unclear how Obamacare will affect Americans' pocketbooks.
Follow Aimee Picchi on Twitter at @aimeepicchi.
Obama-Care = Redistribution of Wealth
Obama-Care = Division of America
Obama-Care = Working Tax Payers vs. Free-Loading Leeches
aimee is admitting obamacare will cost jobs. so finally they are seeing the light. at some point the balance will tip to repeal. it's just a matter of time.
That's just great- Now we'll need to bring our lawyer with us to the doctors office.
And all of you were worring about those new college grads getting jobs.
You didn't know what was in it, but you voted for it anyway-stupid fools !
“Legal firms are boosting their staffs to help clients understand and comply with the Affordable Care Act, which goes into effect in 2014, The Wall Street Journal reports. Corporate clients spent $5.72 billion on legal advice for regulatory issues last year, and spending on those services -- which include health care regulations -- is slated to jump to $6 billion in 2013.”
And just who does Aimee think is going to pay for these increased legal fees? The costs will be passed on to end consumers which means that the prices for goods and services will also increase in addition to what each person will pay in ACA tax payments. More and more costs to the consumer and pretty soon, the costs will probably significantly outweigh the gain in ‘health care’.
“Obamacare is also spurring hiring in one other area: call centers designed to help consumers figure out the new regulations. As many as 9,000 jobs will be created at 14 call centers across the country.”
Makes one wonder what color the sky is in Aimee’s world?
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] Not much change in the major averages as they remain in the lower half of today's trading range. The S&P 500 holds a loss of 0.6% with eight sectors in the red.
The discretionary sector (-1.2%) tumbled to the bottom of the leaderboard at the start of the session and has not been able to put together any sort of a rebound yet. Similarly, Amazon.com (AMZN 322.92, -35.68) remains not far above its opening low. Given the weakness in a major retailer, the SPDR ... More
More Market News
The company is struggling to make a profit and is overvalued, and disappointing trends will continue to weigh on the stock.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'