A recent nonpartisan Congressional Budget Office (CBO) report claims that up to 2 million workers could lose their jobs by 2017 due to regulations in the Affordable Care Act, also known as Obamacare. In addition, the report estimates that up to 2.5 million workers will drop out of the workforce by 2024. The workforce reduction is anticipated primarily due to the health care legislation's disincentive to work. However, a portion of the losses may also be attributed to job cuts.
According to the Washington Post, the CBO anticipates that some workers who are employed in unfulfilling jobs will stop working when they are able to obtain health insurance from the health insurance exchanges rather than from their employers. Some workers may also cut their own hours in order to obtain greater financial gain from government subsidies than they would make working their usual number of hours. In other words, the loss of subsidies due to earning an income may be viewed by some workers as an additional tax that can be avoided by working less.
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