Affordable Care Act and Businesses

Affordable Care Act and Businesses

The launch of the new healthcare exchange has many wondering What impact the Affordable Care Act will have on businesses?
The launch of the new healthcare exchange has many wondering  What impact the Affordable Care Act will have on businesses?     
   
One local insurance agency is helping businesses figure that out.

Springer Insurance, based in Sullivan, sponsored a seminar today focused on the Affordable Care Act and what businesses need to know.
       
The major takeaway from the meeting was that it's really too early to tell what type of impact the Affordable Care Act will have on businesses here in the valley.

Close to 30 people showed up for the meeting at the Elks Country Club in Sullivan.
   
They each represented different businesses across the Valley.
   
A variety of topics were discussed including the healthcare marketplace, the law's requirement for certain businesses to provide health insurance, and the penalties companies can face for not offering health coverage.
   
The major concern for most companies in attendance was cost.

"The concerns that they're having is what is it going to cost them? That's probably the number one concern is the cost of the insurance, what will this do to their expense. For the small business owner the biggest expense that they have is healthcare, so many of them are making big decisions," Gary Burden with the Professional Training Institution said.

Under the new law businesses with more than 50 employees will be required to provide health insurance to their workers.
   
If they don't, they'll face a penalty.
   
However, that provision has been delayed for one year.
   
It won't take effect until January 2015.
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