Not only that but people who had insurance will loose benefits especially prescription drug coverage.
Health Care Legislation - the impact on businesses - This came out yesterday, and represents announcements from just 3 companies, of the hundreds of large companies which are likely affected:
John Deere and Company is going to take a $150 million charge this year, while Caterpillar will take a $100 million write-off. The press releases cite the elimination of government subsidies for retiree prescription drug benefits. With the ending of government subsidies for this benefit, the companies are now on the hook for these expenses, and they need to book this loss today. A reader who has a relative working for Caterpillar has told me that the head of the company has told workers that the $100 million write-off will result in more job losses, to offset this new cost. The Bloomberg story on this mentioned that the new health care legislation is going to cost American business $14 billion. AK steel has come out and said that the change in tax breaks for employee drug benefits will cost them $31 million right away.
http://beforeitsnews.com/news/...t_on_Businesses.html