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

Happy first day of December! It’s December and the end of the year is in full-swing. Don’t go into the holiday travel season without the December Book-of-the-Month: Business Adventures by John Brooks.

December means that its holiday time. No matter what holiday you celebrate it’ll...

Female celebrities are breaking the stereotypes of Hollywood and diving into the world of business. Check out how these women are using their fame, fortune, and power to start their own companies. From media production to makeup, these Top Female Celebrity Business Owners are doing it all!

As...

With only a few weeks lefts in 2017, it’s time to get organized now! The holidays are around the corner and you don’t want to be scrambling at the end of the year. Use these Small Business Organization and Tax Tips to End 2017 to help you keep the end of the year stress to a minimum.

Happy...

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.
Residual Income Business Opportunities
Residual Income is the way that you work once and get paid multiple times—sounds great!... 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.
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
Why Advertise Your Business Opportunity?
Over the years we have been fortunate enough to receive quite a few testimonials. In fact, ... read on
National Property Inspections
Flexible work schedule, no experience needed, and complete training and support available!
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.
Top 50 Home-Based Business Ideas
Home-Based Business ownership can be the most rewarding endeavor you will ever undertake. The new year... Read On
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
Copying & Publishing Business Opportunities
Today creativity abounds in the printing and publishing space with more unique business solutions than ever imaginable.
 
Resource Center > Article
Obamacare Implementation Gets Messy for Small Business Owners
19 Apr 13 Posted by: Kathleen C Lanza
in Featured Articles
Share this Article:

Recent developments in the Obamacare (aka the Affordable Care Act) implementation process are confirming what many agreed from the outset was a foregone conclusion: This is going to get messier before it gets better. More specifically, the way the law is currently written is forcing some small business owners to make some pretty tough decisions.

Case in point? Over the last month or so, the mainstream press has cited a number of unsettling firsthand accounts by small-business owners who hover around the 50-employee threshold where offering health insurance to their workers becomes mandatory in 2014. And by mandatory, we mean they have to get on board or pay a penalty.

obamacare-logo_full
Here’s the issue, for many of them—even those who want to provide coverage—the math just isn’t working out the way they had hoped. Paying the penalty for non-compliance, they say, is far cheaper than it would be to continue or begin providing their employees with the opportunity to purchase health insurance, so many of them are planning to opt out and pay up. And for those who don’t want to have to make such a seemingly lose-lose call in the first place, the decisions they’re making in order to steer clear of the 50-worker-level mandates altogether don’t look much better.

To avoid even hitting the threshold for compliance, many small business owners report they are having to take some pretty bold steps. Some of them are cutting their employees’ hours or letting them go, while others are deciding not to hire any additional staff or upping the portion of the premium their employees currently pay for healthcare benefits. The fear is that, taken as a whole, these kinds of coping strategies may result in potentially negative consequences for an economy that is still struggling to recover.

Complicating matters even further is the fact that the health insurance exchanges*—which are supposed to make insurance premiums more affordable for both individuals and small businesses because they operate on the principle of pooled risk—may now be delayed in coming online for another year or so. This most recent development even has those organizations that represent small business and that also support Obamacare somewhat concerned.

In his recent testimony before the South Carolina Senate, Frank Knapp, Jr., president and CEO of the South Carolina Small Business Chamber of Commerce asserted that while the new law does offer a solid compromise to meet the demands of businesses who want to provide health insurance to their employees and rein in healthcare costs, any delay in the healthcare exchanges poses a challenge. Competitive state-based exchanges, he said, are “something that we are selling as a benefit of the Affordable Care Act,” so not having them in place sooner rather than later really limits small business owners’ options at a time when they need them the most.

As for small businesses with less than 50 employees, while they are not required under the new law to provide their employees with health insurance, the healthcare exchanges are designed to create a free and competitive marketplace that entices and enables them to do so. Of course, self-employed individuals will also be required to purchase health insurance or risk paying a penalty, which also makes the healthcare-exchange piece of the current law and its effects on implementation so important.

The really good news? And yes, there is some… To help everyone obtain coverage starting next year, health insurers will no longer be able to deny coverage to anyone based on their gender, health status or whether or not they have a pre-existing condition, addressing an ugly reality that has left far too many small business owners, sole proprietors and other individuals in need of health insurance out of luck in the past. Furthermore, insurers will be unable to charge higher premiums based on anyone’s specific health status or circumstances.

Although complicated, Obamacare does provide significant tax incentives for small business owners to provide their employees with health insurance benefits, even now. And for those self-employed individuals who qualify as low-income, tax credits will be available for them as implementation unfolds as well.

*more formally known as the Small Business Health Options Program, or SHOP Exchange

For more information on the very complex issue of Obamacare and its effects on small business owners in particular, we recommend the following resources:

“Some Small Businesses Opt for the Healthcare Penalty” (Wall Street Journal)

“Small Business Obamacare Delay Means Fewer Choices for Workers” (Huffington Post)

“Small Businesses Opt to Pay Obamacare Penalty Instead of Offering Health Insurance” (Huffington Post)

“Some Small Businesses See Obamacare as Welcome Relief” (Entrepreneur)

“Businesses Could Shum Obamacare Exchanges” (CNN Money)

“No Big Deal? Small Business Groups Shrug Off Delays to Obamacare’s Healthcare Exchanges” (Washington Post)

And finally, for a great webinar on how to prepare for Obamacare’s implementation and what it means for the self-employed and those with 50 or less employees more specifically, go to the National Federation of Independent Business (NFIB) now!

HOT TOPIC! We know that Obamacare is causing a lot of confusion and mixed emotions among small business owners in particular these days, so we want to hear from you! How is the new law affecting you and your small business? What challenges or opportunities do you think Obamacare presents? Are you concerned about the possible delay in getting the healthcare exchanges up and running? Why or why not?

Related Blog Posts
1 Dec 17 Posted by: Margaret Mallonée
in Featured Articles

Happy first day of December! It’s December and the end of the year is in full-swing. Don’t go into the holiday travel season without the December Book-of-the-Month: Business Adventures by John Brooks.

December means that its holiday time. No matter what holiday you celebrate it’ll...
10 Nov 17 Posted by: Margaret Mallonée
in Featured Articles

Female celebrities are breaking the stereotypes of Hollywood and diving into the world of business. Check out how these women are using their fame, fortune, and power to start their own companies. From media production to makeup, these Top Female Celebrity Business Owners are doing it all!

As...
1 Nov 17 Posted by: Margaret Mallonée
in Featured Articles

With only a few weeks lefts in 2017, it’s time to get organized now! The holidays are around the corner and you don’t want to be scrambling at the end of the year. Use these Small Business Organization and Tax Tips to End 2017 to help you keep the end of the year stress to a minimum.

Happy...
2 Oct 17 Posted by: Kevin James Culp
in Featured Articles

Entrepreneur Natural Disaster Tips - Top 50 Things for Business Survival

Hurricane’s Harvey and Irma have taken a toll on many home-based, work-from-home,...
2 Oct 17 Posted by: Margaret Mallonée
in Featured Articles

October’s Book-of-the-Month is Tools of Titans by Tim Ferriss.

Does the name Tim Ferriss sound familiar? You’ve probably heard it many times before. Tim Ferriss is a #1 New York Times best-selling author of the critically acclaimed book, The 4-Hour Work Week. He also...
 
   

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