JK Wall reports for Independent Business Journal, June 28, 2013, that St Vincent Health — the second-largest hospital system and the 6th-largest employer in IN, with 22 hospitals employing about 17,300 people — announced it will eliminate about 865 jobs to reduce its labor costs by 5%. All thanks to the jobs-destroying socialized medicine mess of Obamacare.
The job cuts are to save money as Obamacare (Patient Protection and Affordable Care Act) and Congressional budget cuts promise to take a bite out of hospital reimbursement rates.
Obamacare calls for $155 billion in cuts to hospitals’ Medicare payments over 10 years. Then the fiscal-cliff deal on Jan 1 of this year chopped out another $15 billion. And the budget sequester, which hit March 1, looked ready to sap another $10 billion.
Look for more of the same in the health care sector, and elsewhere, as this bloated behemoth destroys more jobs and the economy. More employers are indicating they will jettison the Obamacare mandate and either fire, layoff, or make more employees part time to escape the expensive novelties of the Kenyan kommie and the Regime. And swell the ranks of those on Medicaid to record levels, to wit:
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