Another company has come on board in opposing healthcare mandates in Obamacare. Hobby Lobby, a chain of arts and crafts stores, has sued the Obama Administration to stop them from requiring companies to provide drugs such as the morning-after pill as part of their health insurance plans.
Hobby Lobby, which was originally founded by evangelical Christians, becomes the largest and first non-Catholic company or group to sue the government. There are currently 27 other lawsuits pending over the healthcare mandate, most of them from nonprofit organizations.
If Hobby Lobby refuses to comply with the Patient Protection and Affordable Care Act’s mandate, it faces a $1.3 million per day fine. The company has until January 1 to comply.
There is a good chance that Hobby Lobby could win, at least in the interim. In July, a company based in Colorado received a temporary injunction against the healthcare mandate, despite arguments from the U.S. Justice Department that individual religious beliefs can’t be used to avoid laws imposed on the rest of the country. Long-term, it remains to be seen whether or not the healthcare mandate will be applied to companies like Hobby Lobby.
– Benjamin Nanamaker, InvestorPlace Money & Politics Editor
The opinions contained in this column are solely those of the writer.
Want to share your own views on money, politics and the 2012 elections? Drop us a line at email@example.com and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.