Dunkin' takes shot at modifying Obamacare
The company is lobbying the government to narrow the Affordable Care Act's definition of 'full time,' which would mean fewer employees for it insure.
The question of who counts as a full-time worker is coming under fire from Dunkin' Brands (DNKN), which wants the government to narrow its definition under Obamacare. That's because it wants to avoid paying health insurance for Dunkin' Donuts employees who work as little as 30 hours a week.
Dunkin' Brands is lobbying the government to change the U.S. Affordable Care Act's definition of "full-time" to employees working at least 40 hours a week, instead of the 30 hours currently written into the law, Chief Executive Nigel Travis told the Financial Times.
The latest volley from an iconic U.S. business comes as the ACA is set to go into effect next year. The law will require employers with 50 or more full-time employees (30 hours or more) to offer those workers "minimum essential" healthcare insurance.
Dunkin' Brands, which also owns Baskin-Robbins, operates on a franchise model. The parent company, excluding workers at its company-owned restaurants, employed more than 1,120 people at the end of 2011, according to its annual report.
But the real benefit would likely go to Dunkin's franchisees, who operate more than 10,000 Dunkin' Donuts locations and almost 7,000 Baskin-Robbins restaurants.
Other big businesses are lashing out at the costs of the plan. Supermarket chain Kroger (KR) told the FT that some companies might decide to pay the government-mandated penalty for failing to insure employees simply because it's cheaper than buying insurance.
Small-business owners are also reacting. As previously reported by MSN moneyNOW, one Wendy's franchise in Nebraska is cutting back the hours of non-management employees to avoid paying health benefits. The local franchise vice president said his company couldn't afford to pay for health insurance and instead is cutting hours of about 100 Wendy's workers.
Other businesses are keeping their employee count under 50, the FT notes.
The average cost to employers of providing insurance for a single worker is $4,664 and $11,329 for a family, the FT notes, citing the Kaiser Family Foundation. The penalty for not insuring employees under Obamacare, meanwhile, is $2,000 per worker.
"If you look through the economics of the penalty the companies pay versus the cost to provide coverage, the penalty's too low, or the cost of coverage is too high, or the combination is wrong," Kroger Chief Executive David Dillon told the newspaper.
The day will come when not only does the company pay a fine but you and I will too. Can't afford the insurance so your answer will be to fine me, hmm can't afford the fine now what. Maybe they will pay off our debt to China with this money. I say it again ITS AN OBAMANATION.
It be easy! and those who said insurance cost around 4664 for single employee and 11329 for all family are going to the extreme..."health care provider" should stop stealing money from insurance by stop charging for extra services that ppl don't request or need. Why some hospital send your blood work to more than one laboratory and then the patient had to pay for all those extra stupid fees. If every american had insurance and the health provider stop stealing....insurance will become affordable for companies offer to their employees.
It's not just Obama. It's all the dim-witted, and I do mean DIM -WITTED liberal geeks like Pelosi that are gonna take us all back to the glorious days of the great depression so we can all be miserable except the lazy, criminal, welfare pigs that are sucking the life right out of this country. Hear this, all of you left-leaning Peking Men and women of stone age ignorance and stupidity, stand down or face the wrath of the intelligent, hard working, sensible citizens of this country who are not fooled by your illusion and have given our last penny to your lowlife constituents!!
“The American people will never knowingly adopt socialism. But under the name of Liberalism, they will adopt every fragment of the socialist program until one day America will be a socialist nation without knowing how it happened. I no longer need to run as a Presidential Candidate for the Socialist Party. The Democrat Party has adopted our platform.” - Norman Mattoon Thomas - (November 20, 1884 – December 19, 1968) - Six-time presidential candidate for the Socialist Party of America
I read a lot of obama bashing going on in this post - YOU HAD YOUR CHANCE TO CHANGE THE COURSE OF THIS COUNTRY THIS PAST NOVEMBER, THE MAJORITY OF HARD WORKING AMERICANS WHO DEPEND ON THEMSELVES TO PROVIDE FOR THEIR FAMILIES DID NOT VOTE. INSTEAD THE 47% PLUS THE LIBERAL PROGRESSIVES VOTED FOR MORE AND LARGER GOVERNMENT. Mitt Romney received 5 or fewer votes in hundreds of election precincts across the US, in some cases obama won by 100+% - OBAMA RECEIVED MORE VOTES IN SOME PRECINCTS THEN THERE WAS REGISTERED VOTERS.
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[BRIEFING.COM] The stock market ended the midweek session on a mixed note. Blue chip listings bolstered the Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.3%), while the Russell 2000 (-0.4%) and Nasdaq Composite (-0.02%) underperformed.
Equity indices began the day in the red, but wasted no time regaining their flat lines. Small-cap stocks were not as fortunate as the Russell 2000 spent the day in the red.
Upon returning into positive territory, the key indices were ... More
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