Friday, December 13, 2013

Blog Series - Affordable Care Act

About 1.2 million people have now gotten coverage through “Obamacare” nationwide. As of December 9th, 314.146 New Yorkers have completed applications, with 100,881 enrolled. Coverage starts as soon as January 1, 2014 and can begin any month after that.

There has been a lot of speculation as to what obligations small businesses will have when it comes to their their employees and the Affordable Care Act.  Media sources have spread inaccurate and unsubstantiated information regarding the law.  The best place to get non-opinionated information are the government websites at the following links.

Federal Affordable Care Act for Small Business Website

The Federal Small Business Health Options Program (SHOP) Marketplace makes it possible for small businesses to provide qualified health plans to their employees.

For 2014, the SHOP Marketplace is open to employers with 50 or fewer full-time-equivalent employees (FTEs). You may qualify for tax credits if you use SHOP.

If you're self-employed with no employees, you can receive health coverage through the individual (not business) application process.

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