A new study shows companies in Texas could find themselves paying a lot more in tax penalties--if the Affordable Care Act were to ever really take off. The research conducted by Jackson-Hewitt crunched the numbers--and found states that have decided not to expend their Medicaid programs under Obamacare will be the ones where employers would really feel the pressure.
"If your state does not expand Medicaid, taxes on employers will go up by a substantial amount" said Brian Haile with Jackson-Hewitt. He told 550 KTSA News those costs could be staggering--if people were to move in large numbers to the exchanges to enroll for health care coverage.
"Those penalties when you aggregate them across the State of Texas will cost employers between $266 and $399 million" Haile said.
Texas is one of twenty-five states to not expand it's Medicaid program to this point.