The Patient Protection and Affordable Care Act has cost states and private companies $27.6 billion to date, and five states will endure at least $1 billion in regulatory costs stemming from the law, according to a new analysis from the American Action Forum.
The five states experiencing the largest costs and losing the most work are detailed below.
Note: "Full-time employees lost" reflects the number of full-time employees dedicated to PPACA regulatory compliance, or hours of paperwork. The PPACA took a "robust work year" of 2,000 hours to approximate how many employees will be devoted to complying with federal paperwork. If a state has 10,000 hours of new paperwork requirements, the analysis presumes five full-time workers will be dedicated to regulatory compliance.
California
Compliance costs: $3.4 billion
Full-time employees lost: 2,917
Texas
Compliance costs: $1.8 billion
Full-time employees lost: 1,292
New York
Compliance costs: $1.7 billion
Full-time employees lost: 1,383
Florida
Compliance costs: $1.6 billion
Full-time employees lost: 978
Illinois
Compliance costs: $1 billion
Full-time employees lost: 816
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The five states experiencing the largest costs and losing the most work are detailed below.
Note: "Full-time employees lost" reflects the number of full-time employees dedicated to PPACA regulatory compliance, or hours of paperwork. The PPACA took a "robust work year" of 2,000 hours to approximate how many employees will be devoted to complying with federal paperwork. If a state has 10,000 hours of new paperwork requirements, the analysis presumes five full-time workers will be dedicated to regulatory compliance.
California
Compliance costs: $3.4 billion
Full-time employees lost: 2,917
Texas
Compliance costs: $1.8 billion
Full-time employees lost: 1,292
New York
Compliance costs: $1.7 billion
Full-time employees lost: 1,383
Florida
Compliance costs: $1.6 billion
Full-time employees lost: 978
Illinois
Compliance costs: $1 billion
Full-time employees lost: 816
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