Friday marks the two-year anniversary of President Obama’s hotly-debated Patient Protection and Affordable Care Act, and small businesses say the jury is still out regarding what the new regulations could mean for them.
If the bill clears all political showdowns in its way and becomes law, it will go into effect in 2014, but a recent survey found the majority of small businesses aren’t doing too much to prepare for it.
Here’s what our business owners are saying about the potential impact of the bill on their companies, and how they are getting ready to comply with the act if it goes into effect.
Cassera Communications Cherry Hill, N.J.
Melissa Cassera, owner of the public relations company, said that although she has less than five employees, she is still preparing for the potential impact of the bill.
“The uncertainty lies in knowing what will be considered an adequate amount of coverage to avoid the penalty,” Cassera said. “Until those parameters are clearly outlined, I am looking into a variety of group health plan options and also checking into industry associations such as the Chamber of Commerce that may offer special discounts to member companies.”
In addition to looking at these options, Cassera said she is looking at other ways to absorb the cost of this reform.
“I'm also examining a variety of additional revenue streams,” she said.
Ali Rittenhouse International Sydney, OH
Alicia Rittenhouse, owner of the technological consulting firm for small businesses, said that while she does not employ workers full-time, she knows that by 2014, she will be. However, she isn’t preparing for the potential impact of ObamaCare just yet.
“I hope that we find a happy medium,” Rittenhouse said. “I currently pay over $100 per month just to say I have health insurance. It doesn't cover much of anything but preventative testing or unless I go into the hospital. I am hoping that with the changes and inventive ways of doing things sparked by social media, I will be able to provide myself with a better coverage plan that provides me with something.”
She said she is hopeful that health-care reform will spark some positive change in this country and more people will be able to access care affordably.
“I hope that something changes and helps the hard working Americans out there who are already paying for their own insurance to provide better coverage options,” she said.