A chief complaint from many small businesses across the contracting industry is that they just aren’t sure what the Affordable Care Act will mean for their business. Now, NFIB said in a post that this may become even more unclear, as there are new changes coming to the law’s implementation.
But in early March, the Department of Health and Human Services announced that individuals and small businesses may now be allowed to keep their non-compliant insurance policies through at least October 2016—a full year longer than the law previously allowed. The ultimate decision whether to allow the new extension now sits with the state policymakers and health insurance carriers. The latest tweak has small businesses struggling to keep up with the changes as the administration tries to prolong the impact of the massive law.
One business owner told NFIB that he expects his premiums to increase by tens of thousands of dollars per year.
What have you seen in your business from the Affordable Care Act? Let us know