Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Buy A Business Opportunity of Franchise
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
Come Read Our Featured Articles About Business Opportunities, Franchising, Business Opportunity News and More
Avis Budget Group is offering the ultimate low cost car and truck rental independent operator opportunity with unlimited earning potential.  Avis Budget Group is looking for an independent operator for its location in Colorado Springs, Colorado. This is a unique opportunity to take over a retail location...
Are into healthy living? Do you have an entrepreneurial spirit? If so, you should read about this skincare, beauty and hair care product business opportunity. A company that is pioneering the...
Did you know that you can operate your own business that helps mid to large sized companies with their energy efficiency? Yes you can with this clean technology (cleantech) energy management...

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
I-insureme
$$$ BUILD HUGE INCOME SELLING SOMETHING EVERYONE MUST HAVE $$$ Call our 24-hour message line at 301-276-5575 now!
Carelumina
Make up to $1,000/week! We are changing the industry with our physician formulated state-of-the-art products & services!
CTFO
TAKE A FREE POSITION NOW WITH CTFO SELLING CBD HEMP OIL! Join The Hottest Wellness Trend & Next Billion Dollar Industry.
Home-Based Travel Business Making $$$$
Cash in with us on the Multi-Trillion Dollar Travel Industry by working as an independent Affiliate for World Discovery!
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
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
Haney Hitting System
ENJOY BASEBALL/ SOFTBALL? WORKING WITH KIDS?WORKING @ HOME? EARNING EXCEPTIONAL INCOME? Email RAHANEY71@AOL.COM for info
 
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
13 Nov 18 Posted by: Todd Hatch
in Featured Articles
Avis Budget Group is offering the ultimate low cost car and truck rental independent operator opportunity with unlimited earning potential.  Avis Budget Group is looking for an independent operator for its location in Colorado Springs, Colorado. This is a unique opportunity to take over a retail location...
20 Jun 18 Posted by: Todd Hatch
in Featured Articles
Are into healthy living? Do you have an entrepreneurial spirit? If so, you should read about this skincare, beauty and hair care product business opportunity. A company that is pioneering the...
11 Jun 18 Posted by: Todd Hatch
in Featured Articles
Did you know that you can operate your own business that helps mid to large sized companies with their energy efficiency? Yes you can with this clean technology (cleantech) energy management...
7 Jun 18 Posted by: Todd Hatch
in Featured Articles
Are you into healthy living? Do you have an interest in working for yourself? Well then, you should check out this nutrition and wellness product business opportunity that enables you to be a top-selling health...
4 Jun 18 Posted by: Todd Hatch
in Featured Articles
At BusinessOpportunity.com, we have many financial services business options, including a home and commercial property financing business opportunity. As...
 
   
Entrepreneur's Source for Everything Business Opportunity and Franchise Related

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