impact of healthcare reform on small business
DESCRIPTION
In March 2010, the battle around the health care reform is raging. It clearly has an impact on business but what is it? This presentation attempts to look at some of these impacts in a graphical manner.TRANSCRIPT
2010 U.S. HealthCare Bill
Small Business ImpactsSmall Business Impacts
An Initial Perspective
High Level View of its Impact on
Small Business
By Chris Muccio –
www.CFOStrategist.com
It’s not about being for or against
healthcare but trying to understand
what it really means to the small
Forget arguing for a moment…
what it really means to the small
business
"When you're already overwhelmed with change and hear
there's one more coming, you say to yourself that you'll
deal with it tomorrow,“ Jerry Jellison, a small-business consultant
who specializes in implementing change (USA Today)
Let’s look at it today!
To be Fair - analyzing the long-term impact of the bill is
more difficult than it may at first appear… given, • the sheer size of this legislation,
• the number of constituents it affects and
• the authority it leaves to regulators,
There are many elements to the Healthcare Bill.
The graphic on the next page provides an
initial overview to how it can impact certain
business
Today Jan. 1, 2014
For Employers with 50
or more employees
Required - Offer affordable insurance
Avg. Cost Today $4,824* Single
$13,375* Family
Penalty$750 per employeeMay be raised by Senate
to $2000
Cost Containment Need
Insurance premiums have
increased 128%* since 1999
Does it Make Sense…
…to pay the insurance or take
the penalty & pay SHOP?
Business Benefit
Additional cost either for
penalty or for premium – will
No immediate
requirements
Can receive
tax credits
High Level View - Healthcare Impact on Business
For Employers with less than 50 employees
NotNotNotNot Required - Offer affordable insurance
State Run
Insurance
Pools (SHOPs)Offer
penalty or for premium – will
predicted benefits offset this?
Tax Credit
Available to certain
sized businesses
Not offered Non Insured Employee – purchase from
Impact on Growth
Will small business refuse to
hire more than 50 employees?
NOTE: Part timers included in the count
tax credits
depending on
the size of
business
Source * - Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2009.
Avg. Cost Today $4,824* Single
$13,375* Family
Finding Employees
Will employees want to work
for “small employer” w/out
insurance?
Written by a business leader for Written by a business leader for
business leaders.
www.CFOStrategist.com