Steel industry iffy on impact of health-care act

Mar 18, 2013 | 02:26 PM | Samuel Frizell

Tags  Obamacare, Affordable Care Act, steel, wire rod, rebar, healthcare, premiums, Gene Marks Burke Byer

NEW YORK — With just nine months before the Affordable Care Act comes into force and requires all medium- and large-sized companies to provide insurance for their employees, the steel industry is bracing for uncertainty.

An informal poll of steelmakers suggests that most companies will continue to offer their current plans, but that could change as becomes more complicated to provide insurance and perhaps more expensive. There are plenty of questions about how the plan will be enforced and what it will mean financially for companies in the steel industry, from family owned distributors to the biggest mills.

"Right now, it’s the ‘We’re not quite sure how it's going to work’ health-care act. ... Some things could be good; some things could be bad. But we don’t know how this is going to work," Burke Byer, president and chief executive officer of Cincinnati-based rebar mill and fabricator Byer Steel Corp., told AMM.....

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