Weekly Resource #26 – Healthcare Reform and Small Business

Over the past few years, all of us have watched as Health Care Reform, President Obama’s primary running platform, has fought it’s way through the legislative branch. The Patient Protection and Affordable Care Act, dubbed “ObamaCare”, was signed into law by President Obama on March 23rd, 2010. Since then, the bill has continued to be the source of much controversy and recently has been a large catalyst in the stalemate in congress that led to the quagmire of a government shutdown.

What does a healthcare reform of this magnitude mean for small businesses? The U.S.Chamber of Commerce has the answer to this questions. Health Care 101 is a tool created by the U.S. Chamber of Commerce to inform small business owners of the changes that could affect them and what they need to do to comply with the changes.

With FAQs, videos, and charts galore, Health Care 101 should be able to answer most questions that small business owners have regarding the new Healthcare laws. It’s penalty calculator will help you determine whether you (as the employer) are required to offer coverage and what the penalty might be based on the number of full-time employees. This chart will help you determine whether you must pay penalties per employee or not. The Interactive Timeline plots the dates that key provisions will take effect. Check out the website and be sure to explore the plethora of information listed there.

Keep in mind, the materials shown on the website were developed for educational purposes. It is recommended that you speak with a attorney or benefit consultant to understand your legal obligations under the law.