WE WANT to know if you think that the Affordable Care Act, better known as Obamacare, will help or hurt your business?
The National Federation of Independent Business issued a research report on Oct. 31, 2013, that said that the majority of small businesses were seeing their insurance premiums increase.
In a new survey of 921 small business owners and operators from around the country, 64% reported that they pay more for insurance premiums per employee in 2013 than they did in 2012. For a population of job creators that has consistently identified the "rising cost of health insurance" as its No. 1 business problem for close to 30 years, Obamacare has failed to address this most important of small business concerns.
“Small Business's Introduction to the Affordable Care Act, Part 1, A new healthcare longitudinal survey by the NFIB Research Foundation 2013,” said that the law’s authors gave little consideration to who would foot the bill.
In her coverage of the Plumbing-Heating-Cooling Contractors – National Association Legislative Conference, CONTRACTOR Senior Editor Candace Roulo quoted PHCC-National Association President David Dugger, “The primary requirement affecting us [ShoffnerKalthoff Mechanical Electrical Service] is the mandate to offer affordable health insurance to employees or face penalties,” said Dugger. “There are other aspects of this massive bill that also apply to companies of our size. Because this is all so complex, we’re trying to stay on top of all that is involved, so that we are prepared for all stages of implementation. It’s not an easy process, as the regulations are totally new and often confusing.
“The bill is so complex with so many underlying regulations that I am truly concerned about the effect it will have on my company and my employees,” added Dugger. “In business you have to plan for tomorrow and be proactive and not reactive. With the new health care reform I’m afraid we are all going to be reactive, which is not good business.”
One of the best sources of information is SESCO Management Consultants, the HR consultants for PHCC – National Association. SESCO has recently updated "An Employer's Guide to Healthcare Reform" providing a detailed overview of what is required by the law, including a timeline indicating when different provisions are to be implemented. This white paper is available for $15 ($10 for retainer clients) and may be ordered by phone at 423/764-4127, from SESCO’s Online Publications store, or by email at [email protected].
So will the law hurt or help? Comment below now.