Small Business 101: Health Reform

ID-10058008ObamaCare has brought about much change in America, one of which is the change it brings to small businesses. Since the launch of the Affordable Care Act (ACA) on October 1, insurance companies have run a muck leaving glitches in the exchange. In all this frenzy, it is easy for us to sit and wait it out. But we cannot forget  what this means for us.

There are several aspects to consider when trying to understand what this means for business owners. You are probably asking yourself questions like – Do I need to offer health insurance to my employees? What do I need to tell my employees about ObamaCare? Do I get any benefits as a small business owner? What are the requirements if I only have a small number of employees? What parts of the law are pertinent to my business?

Because small businesses range in number of employees to profit to annual wages, the answers will vary. It is important that we do our research to fully understand how to comply with the new law. In my research, I found free webinars for small businesses which discuss the effects of the new healthcare reform on small businesses. The webinars are provided by Small Business Majority, an advocacy group focused on small businesses, which focus on the applicable state and federal requirements. They cover topics such as the online insurance marketplace, small business tax credits, new consumer protections, and employer and individual shared responsibility. There are several webinars available and some go into specific states such as California, Connecticut and Missouri. In addition, the webinars also give small business owners a look at current insurance options.

There are many benefits the ACA brings to small business owners so it is imperative that we do research to create the best options for our businesses and for ourselves. Let us all take a look at what the ACA can do for us!

What benefits have you seen?


For more information visit:

Image courtesy of David Castillo Dominici/