Papa Johns Obamacare cost - 3.4 to 3.6 cents per pie

“Evidence suggests that when health insurance costs go up, worker wages fall, rather than prices going up,” Gruber said. “If firms are forced to give their workers health insurance, they generally react by paying workers less in wages; they don’t raise the price of goods." However, in the case of Papa John's, a portion of its employees are already paid at minimum wage, Gruber pointed out. "So you can’t reduce wages for those employees, and the firm may have to increase prices a little bit,” he said.

But Gruber emphasized that such price hikes will likely be small, meaning local business owners shouldn’t expect their prices to become that much more competitive compared to the big guys.

"A lot of what drives statements like those of Papa John’s CEO are politics, not economics," Gruber said.

Schnatter, a Romney supporter who held a fundraiser for the former Republican nominee, said in August that Obamacare would cost the company between 11 and 14 cents per pizza. Subsequent analysis by Caleb Melby of Forbes found that the price increase would actually be closer 3.4 to 3.6 cents per pie.