Affordable Care Act May Offer Savings for Your Business
Many small business owners are nervous and unsure about the Affordable Care Act and how it will affect the cost of providing health care coverage for employees. If you’re wondering if you can continue offering employees health insurance, or if you are questioning whether your employer will maintain coverage, you can likely rest easy.
Small businesses will be motivated to offer coverage by attractive tax incentives. Very small companies, with 25 employees or less, will benefit the most with the new tax breaks. Companies with 25-50 employees will save slightly less, and firms with other 50 employees will still receive some tax benefits if they offer health insurance.
The Affordable Care Act may not change your health care coverage like you fear. Every business needs to evaluate the new potential costs and savings accompanying legislation.