How does the Affordable Care Act affect my small business?
Posted in: Health
Q: I have a small business in Texas. How will the Affordable Care Act affect my business and employees?
A: Starting in 2015, the Affordable Care Act (aka "ObamaCare") requires that employers with 50 or more full-time employees provide healthcare coverage as part of employment, regardless of what state that business is in. If the small business elects to not provide health care coverage to their full-time employees, they will pay a fine. Even so, the first 30 full-time employees are exempt from this rule, ensuring that smaller-sized businesses would be burdened less by the law than larger firms.
None of the above applies if your small business has fewer than 50 employees.
- Answer from wallstreetfighter, a licensed employment lawyer on JustAnswer.
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