How health care bill affects businesses

How health care bill affects businesses

Now that the health care reform legislation that carries a price tag of almost $2 trillion has passed both houses and become the law of the land, many small business owners are wondering how they will be affected. For sure, they (we) can expect higher cost and more mandates from the government.

The new law will force small businesses to provide health insurance whether or not they can afford it, according to the May issue of the U.S. Chamber Magazine. Beginning in 2014 employers with more than 50 employees will be required to offer health insurance or pay a $2,000 per employee fine, if one employee receives a subsidy rather than the insurance, with the firm’s first 30 employees being subtracted from the penalty payment.

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