Alcoa (NYSE: AA) has become the latest company to force its retirees into exchanges due to the requirements of The Affordable Care Act, or ObamaCare.
For retirees, this is an unwanted move, to say the least.
Many companies such as Home Depot (NYSE: HD), UPS (NYSE: UPS), and others have shifted workers and/or retirees into Obamacare exchanges. It is difficult to imagine how a retiree would want this to happen. There are many negative effects that will result due to the move. It is all taking place due to what The Affordable Care Act is forcing upon businesses.
First of all, retirees will now have to fend for themselves.
Rather than deal with the human resources department at work, retirees will no have to log on to a computer program and hope it works. As many articles have detailed the shortcomings of HealthCare.Gov, the Federal Government website and others such as the one in Oregon, those being forced into exchanges can hardly be comforted by the shift.
Even if all goes well, the individual will not have the bargaining power of the corporation.
Companies like Alcoa are blue corporations. Alcoa is a member of the Dow Jones Industrial Average. UPS, Home Depot, and others are blue chips, too. These corporations have tremendous bargaining power that an individual will not. It is difficult to see how an individual will be able to get as good as a deal as Alcoa or Home Depot would be able to with an insurance company.
There are many great insurance companies and many great health insurance exchanges.
But individuals simply do not have the firepower of an Alcoa or a Home Depot. This shift forced by ObamaCare can hardly be considered wanted by a retiree. This is another reasons that ObamaCare supporters are losing in elections. As with so many other features, The Affordable Care Act is penalizing the individual!