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How Obama Care Will Impact the Small Business and Self-Employed Individuals?

business_failing-300x195How does the law impact small businesses that do not offer insurance?

How does the law impact small businesses that do offer insurance?

How does the law impact individuals and individual insurance coverage?

What are Health Insurance Exchanges and what are the differences?

I am Melanie Scardino and I am a NY State Licensed Insurance Broker specializing in Group Healthcare and I can help answer all these questions and more.

Please contact me at Hometown Insurance Agency 631-589-0100 ext 329 or email me at

Do You Know How Obama Care Will Impact your Business?

Although small businesses (less than 50 employees at 130 hours a month) unlike large businesses will not be mandated to offer group healthcare, all individuals without a healthcare option will have to seek healthcare through the new Obama healthcare exchange program or incur a penalty.  The open enrollment is scheduled as of now, for October 1, 2013 with coverage beginning on January 1, 2014.  Small businesses will also have the opportunities to join this exchange under the SHOP program (small business health options program).  Unfortunately small business owners who own multiple small businesses as part of a controlled group or affiliated service group may be aggregated into one business for the purpose of the employer mandate therefore creating a “large business”.

Large Businesses will be mandated to offer group healthcare to all eligible employees or incur a penalty.  Many large businesses are contemplating whether or not this penalty will be a less expensive option for them.  All employees of small or large businesses that are offered group health through their employers are not eligible for the Exchange unless their current group health plan is more than 9.5% of their income.   As of now, large businesses are not eligible to join the Exchange.

As a business owner, how will you know what is best for you?  Will it be better for the small business owner to offer private group healthcare to your employees or join the exchange as part of the “SHOP”, or maybe it would be better for you to let your employees each individually join the exchange?  Regulations are revealing more details and answers but many rules are not yet finalized, so questions will and do remain, however conversations with employees now need to begin.

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