Small Businesses Finding their Ways Around the Affordable Care Act
The Affordable Care Act’s aim is a lofty one; to enable Americans of all levels of income to gain access to quality healthcare that they can afford. This simple idea is not exactly easy to implement in a country where there are already many forms of coverage out there, many differing opinions on public healthcare and a different approach to implementing the program espoused on a state to state basis, essentially creating 50 separate arenas that must be coordinated in order to provide the coverage that is the aim of the program. Outside of the administrative element of the program is the human element, represented by small business owners who have as varied opinions and experiences with the ACA as their businesses themselves.
Small businesses are largely exempt from the most immediate effects of the law. The majority of businesses have been given grace periods within which to comply to the requirements of the new laws, and many of the businesses that are over the size cutoff already had provided their workers with health insurance. While the markets and portals associated with the ACA have gotten flack for crashing or failing to work properly, many businesses and private citizens have still made the jump.
It is important that business owners understand their options as well as the protocols involved with the new insurance marketplace. Even if businesses have been granted grace periods before mandatory compliance with the ACA, they should still take a proactive stance towards compliance and do their research to compare all the options open to them, lest they not be prepared to meet the 2016 deadlines currently in place.
Photo Credit to fudgepress on Flickr