It may be the first but it certainly won’t be the last. The firm nHealth, which specializes in health savings accounts, will fold at the end of the year thanks to ObamaCare. From politico.com:
“We don’t know what the rules are going to be and, as a start-up, our investors need certainty,” nHealth CEO and president, Paul Kitchen, told POLITICO. “The law created so much uncertainty that is beyond our control.”
In a letter to the company’s 50 or so employees last week, executive vice president James Slabaugh said nHealth has stopped accepting new group customers and will terminate all business by Dec. 31, 2010.
“The uncertainties in the regulatory climate coupled with new demands imposed by national healthcare reforms have made it challenging to sustain the level of sales required to remain viable over the long run,” Slabaugh wrote.
ObamaCare requires that every individual purchase government-approved health insurance. In this brief interview, JLF’s John Hood explains this unprecedented expansion of federal power.
