Documents filed with the Department of Labor and dated December 2012—three months after the company's owners filed their lawsuit—show that the Hobby Lobby 401(k) employee retirement plan held more than $73 million in mutual funds with investments in companies that produce emergency contraceptive pills, intrauterine devices, and drugs commonly used in abortions. Hobby Lobby makes large matching contributions to this company-sponsored 401(k).So the company demands it not have to pay for any employee insurance that might purchase such things, but investing in their manufacture? Not a problem.
Several of the mutual funds in Hobby Lobby's retirement plan have holdings in companies that manufacture the specific drugs and devices that the Green family, which owns Hobby Lobby, is fighting to keep out of Hobby Lobby's health care policies: the emergency contraceptive pills Plan B and Ella, and copper and hormonal intrauterine devices.
Oh, but it gets worse. The assertion from Sharia Lobby is that whether or not those contraceptives actually cause abortions, the company owners have a religious belief that they do, so the law must not only be rewritten to eliminate the possibility of the company spending money on abortifacients but rewritten to allow the company to deny insurance for anything that the company feels is an abortifacient. What's still all right, at least from the investor side of things, is actual abortions.
The companies Hobby Lobby invests in include Teva [...], as well as Pfizer, the maker of the abortion-inducing drugs Cytotec and Prostin E2. Hobby Lobby's mutual funds also invest in two health insurance companies that cover surgical abortions, abortion drugs, and emergency contraception in their health care policies.
So providing workers with health insurance that might provide certain contraceptives is right out, but making a little dough from companies that make actual abortion drugs does not run afoul of those self-same Deeply Held Religious Beliefs, nor investing in the very insurance companies whose original naughtiness was the thing Hobby Horse could not put up with.
I think we all understand each other here. Businesses must be able to lodge religious objections to the medical decisions of their employees, but don't be surprised if that happens to be the one and only Deeply Held Religious Belief a given company might have. And we won't even get into the Made In China part.