Service Every Business Needs

Key parts of the Affordable Care Act (referred to here as the ACA) will go into effect Jan. 1, 2014 – but a lot of workers and employers are still unsure about how it will affect them. It’s no mystery that legislation can be difficult to understand. So here, in plain language, are five “secrets” about the ACA that business owners should be aware of.

It’s already here

Beginning Jan. 1, 2014, there’ll be a new way to get health insurance: the Health Insurance Marketplace. But the new law is already making preventive care more affordable and accessible, providing 54 million Americans free access to certain services.

Small businesses get big benefits

insurance claim form

For the first time ever, small businesses will have access to an easy-to-use tool for researching and comparing health insurance options: HealthCare.gov. Plus, small business owners will soon be able to offer their employees a range of plans and insurers, and they’ll still be able to choose how much of their employees’ insurance costs to cover. Small businesses will also have access to more affordable private insurance options and may qualify for an ACA tax credit.

Health reform is good business

Health insurance reforms mean lower costs for U.S. businesses. The Congressional Budget Office estimated that the ACA would lower health insurance premiums by as much as 3 percent for large businesses and 4 percent for small businesses. Plus, the ACA emphasizes affordability and accountability. Insurance companies will be required to spend at least 80 cents out of every premium dollar on health care or improvements to care – and they must publicly justify their actions if they raise premiums by 10 percent or more for small businesses.

It’s family-friendly

The Affordable Care Act doesn’t just benefit workers; it’s good for families, too. Children can stay on their parents’ insurance plans until the age of 26. And starting in 2014, pregnancy and newborn care will be covered by many plans, as will mental health services.

Time is on your side

Enrollment is open from Oct. 1, 2013, through March 1, 2014 – which means you’ve got plenty of time to explore HealthCare.gov, learn about your options, compare private insurance plans and make a choice that suits your needs.

Phyllis C. Borzi is the assistant secretary of labor for employee benefits security.

Tagged as: ACA, Affordable Care Act, health care, Health Insurance Marketplace, healthcare.gov, Phyllis Borzi, small business, tax credit


Wiley Business in the Cloud: What Every Business Needs to Know About Cloud Computing
Book (Wiley)
2011-10-30 14:31:28 by Gottasayit

BTW, you are a service business too. Every

Business person needs to have a good feel for their client, be it white collar or blue collar. I did may jobs where I took full payment upon completion. But I also knew that going in it was straight forward and I'd be done quickly. Most of my jobs were 50/50 or 25/25/50. This way I was able to cover my expenses and not get taken to the cleaners if the client became hard to work for.

2003-05-25 19:10:53 by End_Feudalism

It's called the "cost of doing business"

Every business, whether they make a profit or not, benefits from our education system, national security system, transportation system, capital markets system, and the like.
Everyone needs to pay their share of taxes.
If the business person is inept, they will go out of business and a new, more successful business wil take their place.
The bank doesn't wait to see if the business makes a "profit" before charging interest on any loans. A landlord doesn't base the rent price on the businesses "profits". In each case the business gets a service and pays the cost.

2008-09-10 10:14:50 by Number1HomeBuss

A 100% Legitimate Work From Home Business!16yr!

Are you overwhelmed by all the information about home business opportunities?
Here's a tip... weed out all of the questionable businesses with a few simple questions like:
Is this something I would be proud to share with others?
Is this something that people actually need?
Can anyone be hurt financially by trying this out?
With our home-based company, there is no risk. The financial risk is negligible and you will be very proud to share this service with those you love. People actually do need our services and we help them save a huge amount of money on their health care needs

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