Economists have traditionally believed that an increase in the minimum wage (as well as mandated benefits) causes unemployment.

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"There are 35 other mandated benefits you have to cover, " said Susan Pisano, vice president of communications for America's Health Insurance Plans, a professional association that represents the health insurance industry.

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One example is the "Rigidity of Employment Index, " which measures between 0 (the best) and 100 (the worst) the difficulty in hiring and firing workers, and also measures mandated benefits, such as vacations, and restrictions on working hours.

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Higher premiums are just the beginning, because virtually all existing policies in the individual market and the vast majority in the small-group market do not cover all of the "essential" benefits mandated by the law.

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Insurance works best, Summers argued, when everyone, healthy and sick, is pooled together and minimum benefits are mandated.

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Mental health coverage is not mandated by the law but it requires employers and insurers to make such benefits equal.

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On the other hand, benefits such as preventive care, mental health coverage, and pregnancy coverage are mandated, which will increase the cost of the coverage provided.

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