sactoking
Diamond Member
- Sep 24, 2007
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Some notes:
1) Wendy's is not cutting hours, a Wendy's franchisee is cutting hours. There is a big difference.
2) The employees will still have access to health insurance on the open market and on their state's exchange.
3) The employees may actually be better off. Employers who provide health insurance are required to pay 50% of the premium. If an employee gets insurance on the exchange and qualifies for a tax credit, the credit is tied to their MAGI and is calculated as a max out-of-pocket amount for the premium. Let's face it, many (most) fast food workers are going to qualify for the tax credit, regardless of how many hours they work. it is possible that the value of the tax credit could exceed the value of the employer contribution, making the insurance more affordable, even if the employee retains two jobs to continue working at an aggregate full time rate.
1) Wendy's is not cutting hours, a Wendy's franchisee is cutting hours. There is a big difference.
2) The employees will still have access to health insurance on the open market and on their state's exchange.
3) The employees may actually be better off. Employers who provide health insurance are required to pay 50% of the premium. If an employee gets insurance on the exchange and qualifies for a tax credit, the credit is tied to their MAGI and is calculated as a max out-of-pocket amount for the premium. Let's face it, many (most) fast food workers are going to qualify for the tax credit, regardless of how many hours they work. it is possible that the value of the tax credit could exceed the value of the employer contribution, making the insurance more affordable, even if the employee retains two jobs to continue working at an aggregate full time rate.