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Roswell, GA (PRWEB) July 17, 2012
The Patient Protection and Affordable Care Act (ACA), or “Obamacare,” is still a common topic of discussion among small businesses due to its complicated tax provisions. Company.com, the social network for small business, explains what steps small-business owners should take now that the ACA has been upheld.
“Many employers put off planning for the health care ruling due to the uncertainty that surrounded it,” says Kevin Sasser, vice president of Company.com Corporation. “But it’s important for them to become familiar with the law and start taking the necessary steps to prepare for the future.”
Sasser says the first step in understanding the ACA is to find reliable information, keeping in mind how the upcoming presidential election affects the portrayal of such a politically controversial topic. “There is a lot of political propaganda being thrown around to try and influence voters, so our advice is to look at the law and focus on what your company needs right now.”
Another important step for small-firm employers, says Sasser, is to analyze the number of employees their business has and the average salary of those employees, as well as any plans for business expansion in the future.
- Employers with fewer than 25 employees, whose average income is $50,000 a year or less, may qualify for a tax credit of up to 50 percent by 2014 to offset the cost of insurance.
- If an employer has 2-50 employees, insurers cannot deny or cancel coverage for anyone in the group.
According to Sasser, it is vital to shop around for competitively priced coverage options that match the needs of the business. Company.com simplifies this process with an extensive listing of health insurance vendors and resources for small-business owners to easily find and compare their options.
The worst thing an employer can do is ignore the new legislation, says Sasser. “You are sure to lose if you don’t take ACA into consideration, so be sure to take the time to research what kind of breaks are available and how they fit into your long-term goals.”
For more information about how Company.com can help small-business owners prepare for the future under the ACA, visit Company.com or call 855-812-6290. Read more about the steps small-business owners should take at http://www.company.com/article/acaeffectonsmallbusiness/296.
Stay connected with Company.com on Facebook and Twitter, @companydotcom.
Company.com is a unique business social network focused on the needs and opportunities of new and growing businesses. It allows businesses to connect, communicate, and collaborate with clients, partners, vendors and suppliers, create new partnerships, and engage with customers in new and more effective ways. The company has recently announced a major upgrade to their network that will be available later in Q3 ’12. Visit Company.com for more detail.