Be aware of the Requirements for employers for Obamacare. Here are a few for employers:
- Fewer than 50 employees - no big obligations
- Maybe eligible for tax credit if under 25 employees and wages average less than 50,000 annually
or more employees must cover at least 60% of covered expenses for a
typical person not costing employee more than 0.5% of their household
- Annual reporting
Businesses can buy inside or outside the Affordable Insurance Exchange
There will be Pros and Cons with using the Exchange. It can be
overwhelming to a business owner. Many changes all at one time is hard
to get used to.
owners will need to seek professional help from an insurance advisor,
and most likely, a CPA, who has a clue about the healthcare law
changes. If the group is large enough, 50 or more employees, there can
and will be penalties if you don't comply with the changes. Check out
from Kaiser Family Foundation.