Five Guys burgers and fries are now in the bulls-eye of Obamacare as added insurance costs will have to be passed to the consumer.
Franchise owner Mike Ruffer spoke at a Heritage Foundation seminar Monday about the impact of the Affordable Care Act on small business owners like himself, saying, he is left “truly in the bullseye.”
According to the Inquisitr, Ruffer, who owns eight North Carolina Five Guys and employees 150 people, said he will need the “entire profit” of one of his chains to pay for insurance as mandated under Obamacare.
[Ruffer] is also holding off on opening three new Five Guys outlets until the Obamacare regulations are fully fleshed out. Under the law’s mandates, since covered employers (i.e, those with 50 or more persons on the payroll) must either provide health insurance to eligible employees or pay the government a $3,000 fine for each one, he may be forced to transition many of his full-time hardworking burger cooks to part time status if the premiums become too onerous and unaffordable. He surmised that additional healthcare insurance costs under Obamacare could total $60,000 annually for his business.
Higher burger and fries prices coming to a Five Guys near you.
Watch Ruffer’s comments on the impact of Obamacare via CNS News here: