The Affordable Care Act includes new health care reform terms used to describe parts of the law that affect small business. Understanding what these terms mean can help both self-employed individuals and small employers better navigate the law and take advantage of reforms that are helping to lower premium costs and increase access to quality, affordable health insurance. Here are seven terms in the Affordable Care Act that small businesses should know.
Health insurance brokers, employers and individuals are all eagerly awaiting full-scale implementation of the California Health Benefits Exchange, a centerpiece of the Affordable Care Act, but it’s still anyone’s guess as to what it will look like.
Let me give you the bad news first — leaders in the health insurance industry are predicting steep rises in health insurance costs in 2014. The good news, however, is that under the Affordable Care Act (ACA), some consumers will be eligible for a health insurance premium tax subsidy to help ease the burden of having to purchase coverage.
The transformative health insurance provisions of the Patient Protection and Affordable Care Act take effect in January. Many employers will need time to review the options being created and calculate how best to respond to the individual and employer mandates of the act.
In the past, small businesses could afford a certain lack of sophistication in their human resources processes. It was common practice to rely on Excel and labor-intensive reporting, but health care reform is changing the game.
When key parts of the health care law take effect in 2014, you’ll have a new way to buy health insurance for yourself, your family or your small business: the health insurance marketplace. The marketplace is designed to help you find health insurance that fits your budget, with less hassle.
When a severe rash sent Ryan McGee of Salida to an emergency room last month, he didn’t have health insurance to help pay the bill. “It cost $500 just to be there, and I haven’t even gotten the bill from the doctor,” said McGee, 25. He wishes he had insurance, but his new minimum-wage job as a store clerk doesn’t include medical benefits, and McGee hasn’t bought it on his own. That’s going to change in January, when President Barack Obama’s Affordable Care Act will begin requiring every person in the United States to have health care insurance.
The U.S. delayed a feature of the Affordable Care Act that was intended to help small businesses because of concerns raised by insurers, Health and Human Services Secretary Kathleen Sebelius said today.
The availability of employer-sponsored insurance has fallen by about 10% over the past decade, which has spurred an increase in the overall number of Americans without health insurance, according to a report released today.