There is has been alot of partisan debate about Obamacare over the last several years. It has been discussed seven ways to Sunday, but most discussion has been around policy.
There is a huge contingent of working adults in the 40-64 age range that are currently dependent on work to get health insurance. Decoupling the ability to get healthcare from work is a game changer.
Here are three things I predict will happen and start the economy booming.
1) Starting Jan 1, when healthcare is no longer dependent on employers, there will be a huge wave of people aged 40-64 moving from jobs they dislike to new careers or jobs they like. This will come as a surprise to businesses who have always had the control of workers through the threat of loss of healthcare. The result of this will be a US workforce that is more highly engaged leading to higher productivity.
2) Some of the workers aged 40-64 will retire when they are able to get healthcare before 65. This will come as a surprise to corporate America that has always been able to keep people
captive employed (through the threat of loss of healthcare) or lay them off as needed. They will have to be replaced by younger workers. The result of this will be a lowering of the unemployment rate for the generation now entering the workforce.
3) Some of the workers aged 40-64 will start new businesses. They will end up hiring people. They will also have to be replaced in the job they left. Both of these will result in a lowering of the unemployment rate.
To summarize, the US workforce is about to become more engaged, younger, more entrepreneurial, and approach full employment.
Oh- one more prediction. Both parties will fight to claim credit for the boom.