The Affordable Care Act was made into a law back in March of 2010. The main purpose of the law is to make health insurance more affordable and to reduce the overall costs of health for the population. There are several ways that the law is supposed to achieve those objectives.
However, some small business owners are afraid that the law would have a serious impact on them.
According to Susan Bauman of vegasinc.com, “For employers with 50 or more full-time employees (or full-time equivalent), they must offer group insurance plans including “essential benefits,” and the plans must not cost the employee more than 9.5 percent of their modified adjusted gross income.“
If business owners are unable to follow these requirements, they may be penalized as much as $3,000 per worker.
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