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State Farm CEO Concerned about Affordable Care Act

State Farm

There are plenty of questions and hardly any answers about the Affordable Care Act now that the Supreme Court has upheld the law. That's according to Ed Rust, CEO of Bloomington-based State Farm Insurance and the newly-elected chair of the U.S. Chamber of Commerce. Rust says the unknowns about so-called "Obamacare" make it difficult to understand, let alone embrace: I know of no one who truly understands the complete economic consequences of the Affordable Health Care Act. Many parts are still being written through regulations, things that the states must do to be in compliance. There's tremendous uncertainty."

Rust says one thing that is known about the law--it seems to soak up many revenue streams. In a statement, the U.S. Chamber of Commerce says the health care law remains fundamentally flawed, that it will cost many American's their employer-based health insurance, undermine job creation and raise health care costs for all.

 

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