It’s finally here – – – Welcome To OBAMACARE
Happy New Year !!!
Here is a little intro article from Forbes for all you Small Business Owners out there.
The 5 Biggest Issues Facing Small Business In 2013 — #1 Obamacare
On Friday, we promised that all this week we would give out the top 5 Essential Concerns for Small Business in 2013. Small businesses must prepare for what appears to be an extremely difficult economic environment; U.S. consumers and financial institutions have been dramatically hurt by bad debt and over levering themselves. Although consumers and financial institutions have partially repaired their balance sheets, most of the debt burden was shifted to federal, state, and local governments. The size of government has never weighed so heavily on our economy and potentially runs the risk of crowding out the private sector. One essential thing to consider for 2013 is the Obamacare.
The first essential concern for small businesses is:
Managing Obamacare. Under the PPAHCA, small businesses with 50 or more employees are mandated to buy health insurance for their employees or pay a fine, or tax according to Justice Roberts. In addition, many small businesses will be eligible for tax credits under the PPAHCA, as well as taking under consideration managing full-time and part-time staff to meet or beat the 50 employee threshold. Will small business owners hire advisers and consultants to get them through this knothole? Will they try to read and understand the 2000+ page piece of legislation themselves? Healthcare expenditures are approaching 20% of GDP, thus spiraling healthcare costs is a significant concern for small business owners.