This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Is Obamacare Stealing Your Benefits?

They also note that employers have an incentive to keep workers' hours below 30 hours a week. Because of this, not only are union members losing their pay, but they are also losing their current health benefits. Furthermore, many union health insurance plans are non-profit and governed jointly by unions and companies under the Taft-Hartley Act. But the Obama administration is interpreting the ACA so that union members will be treated differently "and not be eligible for subsidies afforded other citizens," the union bosses claim. As such, they argue, many employees will be relegated to second-class status and shut out of the help the law offers to for-profit insurance plans.

The union leaders are getting increasingly urgent: "Time is running out: Congress wrote this law; we voted for you. We have a problem; you need to fix it. The unintended consequences of the ACA are severe."

The Teamsters, UFCW or UNITE-HERE were all contacted but declined comment.

One union that did comment when asked was the International Brotherhood of Electrical Workers (IBEW). Spokesperson Jim Spellane said that his union is focusing on the provision of the ACA that concerns Multiple Employer Health Plans, which affects his members.

"The act needs to be fixed to take into account the unique nature of Multi- employer Health Plans," said Spellane. "There are a couple of provisions that concern these and with 65 million people covered by them we think they should be fixed. We were told they would be addressed. But they have not as of yet. We them corrected before the provisions of the ACA regarding them kick in. We want the correction process to begin with more urgency."

Another union, the United Union of Roofers, Waterproofers and Allied Workers International, has gone so far as to ask for repeal of the ACA. Citing the loss of benefits to members and the deleterious effect the ACA will have for the industry and Multi-employer Health Plans, Roofers' president, Kinsey M. Robinson, said in a transmission in April that his union is tired of waiting.

"Our Union and its members have supported President Obama and his Administration for both of his terms in office," Robinson announced. "But regrettably, our concerns over certain provisions in the ACA have not been addressed, or in some instances, totally ignored. In the rush to achieve its passage, many of the Act's provisions were not fully conceived, resulting in unintended consequences that are inconsistent with the promise that those who were satisfied with their employer sponsored coverage could keep it."

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,187.87 -228.98 -1.31%
S&P 500 2,002.75 -18.50 -0.92%
NASDAQ 4,650.2560 -33.1510 -0.71%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs