Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Business Opportunities to Own
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Want more sales? Need to grow your business? Use the top 7 methods to generate more leads!

If you read Friday’s blog, you know that one of the best ways to increase sales is to generate...

Are sales down? Do you need to boost sales? Check out our latest tips and tricks to increase sales fast!

Let’s be honest, if sales are low, business and moral are low. Low sales over a period of time can lead to a business shutting down. With online retail giants, like Amazon,...

To help you get inspired, we’ve collected success stories from some of the top mom entrepreneurs of 2017, or mompreneurs.

There is no question that starting your own business is tough. It requires a lot of time, dedication, effort, and money. You’re putting your financial stability, job security,...

Sponsors

STARSCAPES®
Imagine making up to $500 to $1,800 a day! Call or click now see how you can get your business for FREE! (602) 679-0257
Promotional Products Home Business
Run Your Own Business. Be Your Own Boss. Earn Great Profit Potential. Start At A Low Cost. Try It For Free! Learn More.
Hurricane Recovery Resources for Business Opportunity Owners
in the wake of a crisis of this magnitude can be especially maddening, DisasterAssistance.gov is good place to start...
How Many Leads Does It Take To Close A Sale?
This article is now live on our blog and I know could be very insightful for many. Read On
Residual Income Business Opportunities
Residual Income is the way that you work once and get paid multiple times—sounds great!... Read On
Productivity Hacks — Our Top 50
Productivity Hacks will help you make more from less this 2016. Here at BusinessOpportunity.com we want to... Read On
Top 7 Reasons to Consider a CMS
The internet loves obscure abbreviations. You can skip over most of them, but not CMS. What is CMS? read on...
The Ideal Length of Everything Online, Including Social Media Posts
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
It Takes a Hot Voicemail to Land a Warm Lead
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
Low Cost Business Opportunities to Own
Are your right for a Low Cost Business Opportunities to Own? The desire to own your own business... Read On
Sales Hack To Increase Your ROI and Productivity
Sales Hack to make you more money! Sales Hacks are not new, but how you use them is. We receive lots of emails.. Read On
The Top 10 Reasons to Buy a Business Opportunity or Franchise
Starting your own small business is part of the American Dream, right up there with owning your own home. Read On
7 Keys to Leading Highly Effective Sales Conversations
Most people's sales conversations could be better. Not a little better, significantly better. Read On
How Many Leads Does It Take To Close A Sale?
This Featured Article is live on our blog and I know could be very insightful for connectivity and ROI.
I Want To Buy a Business Opportunity or Franchise
Who are the types of people who buy a business opportunity or small franchise? According to people in... Read on
 
Resource Center > Article
Clearing Up Confusion about Obamacare
19 Sep 12 Posted by: Kathleen C Lanza
in Featured Articles
Share this Article:

Many business opportunity, distributorship, licensee opportunity and small franchise owners, in fact the vast majority of them, have only one or a just a few employees. In fact, it is estimated that 96% of all firms in the U.S. have fewer than 50 employees, while more than 78% are non-employers—businesses with no employees other than the business owner or owners themselves.

While those numbers are interesting and certainly impressive, you may be wondering what they have to do with the Affordable Care Act (ACA), more informally referred to by many as "Obamacare." A lot, according to Martin Baily.

Baily is a senior fellow in economic studies at the Brookings Institution and former chair of the Council of Economic Advisers during the Clinton Administration. He talked recently about the ACA and its potential effects on small business owners in particular as part of a discussion about who is and is not better off since 2008 on The Diane Rehm Show, which aired on National Public Radio just last week. Here is what he had to say:

“Many small business owners are very opposed to the Affordable Care Act and believe that it will cost them a lot of money. I think there’s a question of whether it really will. There are a number of revisions in the act which actually could help small businesses.”

Asked “How?” by Rehm, Baily had this to say:

“By giving them subsidies for their employees’ healthcare. And, if you’re very small then you’re not subject to the ACA either, so quite a few people who complain about it actually are not subject to it.”

Now that’s a bold statement, especially given today’s particularly charged political climate and the debate over what many refer to as “Obamacare.” But, is it true?

One thing is for sure. It is all very complicated. And, much of what will or will not happen when the legislation fully takes hold in 2014 remains to be seen. Undoubtedly, some small business owners will fare better than others, but what about the smallest of the small more specifically? What does the ACA mean for them exactly?

In an effort to clear up some of the confusion, here is a quick overview of the legislation as it applies to this group in particular:

• Although some aspects of the ACA have already taken hold, including the ability of parents to keep their children insured on their policy until age 26 and ensuring insurers do not discriminate against them based on pre-existing conditions, the law’s key provisions do not take effect for everyone else until January 1, 2014.

• Small business owners with fewer than 50 full-time equivalent employees (and yes, this requires some fancy calculating if you’re borderline) are EXEMPT from any ACA requirement to provide their employees with health insurance.

• However, these business owners, much like everyone else, are required to purchase health insurance for themselves as part of the legislation’s overall individual mandate, or they risk having to pay a penalty of $695 or 2.5% of their adjusted gross income, whichever is greater.

• For employers who do elect to provide qualified health insurance to their employees, they may very well be eligible for a tax credit.

• Starting in 2014, individuals and business owners will have the opportunity to obtain health insurance through state-operated exchanges, which will offer a range of qualified plan options and operate on the principle of diffused risk (much like any large corporation) as the more than 32 million people who are currently uninsured enter the system.

• The ACA permits small businesses that currently offer insurance to their employees to keep it up, so long as they meet some basic requirements.

• Exemptions to the ACA will be made for those of certain religious backgrounds and based on hardship, where the cost of the qualified health insurance premium exceeds 8% of household income.

• Firms with fewer than 25 full-time equivalent employees have been eligible for tax credits to assist them in covering the cost of health insurance for their employees since 2010, and that will continue in 2014 and beyond, with some basic modifications.

• Small businesses of a certain size that did not have workplace wellness programming in place as of March 2010 are or will be eligible for grants to start such programs.

For more information on the ACA and how it will affect your small business, we recommend the following resources:

Explaining Health Care Reform: How will the Affordable Care Act affect small businesses and their employees? (An easy-to-understand fact sheet by The Henry J. Kaiser Family Foundation)

“What the Health Care Decision Means for Your Small Business,” The Wall Street Journal

Health Reform for Small Businesses: The Affordable Care Act Increases Choice and Saves Money for Small Businesses

The Effects of Health Reform on Small Businesses and Their Workers: Timely Analysis of Immediate Health Policy Issues (Report by the Urban Institute and the Robert Wood Johnson Foundation)

Related Blog Posts
16 Oct 17 Posted by: Margaret Mallonée
in Featured Articles

Want more sales? Need to grow your business? Use the top 7 methods to generate more leads!

If you read Friday’s blog, you know that one of the best ways to increase sales is to generate...
13 Oct 17 Posted by: Margaret Mallonée
in Featured Articles

Are sales down? Do you need to boost sales? Check out our latest tips and tricks to increase sales fast!

Let’s be honest, if sales are low, business and moral are low. Low sales over a period of time can lead to a business shutting down. With online retail giants, like Amazon,...
11 Oct 17 Posted by: Margaret Mallonée
in Featured Articles

To help you get inspired, we’ve collected success stories from some of the top mom entrepreneurs of 2017, or mompreneurs.

There is no question that starting your own business is tough. It requires a lot of time, dedication, effort, and money. You’re putting your financial stability, job security,...
10 Oct 17 Posted by: Kevin James Culp
in Featured Articles

I had the pleasure of chatting with Shawn Pigg, CEO of Hotels Etc. for BusinessOpportunity.com's Podcast series that will be released very soon on our new Digital Platform.  Here is the transcript from that call for our regular RSS feed subscribers who get all of our posts first.

If you would...
6 Oct 17 Posted by: Margaret Mallonée
in Featured Articles

Best Money Making Small Businesses – What Industries Are Booming? What Industries Are Tanking?

It’s no surprise there are a million and one ideas for small businesses. Taking the risk to open your own business takes a lot of courage. You’re putting your livelihood, job security, and financial...
 
   

I had the pleasure of chatting with Shawn Pigg, CEO of Hotels Etc. for BusinessOpportunity.com's Podcast series that will be released very soon on our new Digital Platform.  Here is the transcript from that call for our regular RSS feed subscribers who get all of our posts first.

If you would...
Read More


Premium Sponsor