For Small Companies And Self-Employed People, Health Law Raises Questions
This pair of stories from The Associated Press outlines how confusing the health law can be for both small business owners as well as the self-employed with high income.
The Associated Press: Health Care Law Perplexing To Business Owners
Restaurant owners Colleen and Tim Holmes were considering opening a third business in a growing upstate New York suburb but decided against it. One factor was the risk from expanding their staff beyond 50 full-time employees and having to provide them federally mandated health coverage. Despite knowing the penalty for that part of the Affordable Care Act had been postponed for a year, the couple said their margins are thin and the requirements and costs under the law remain unclear (Virtanen, 9/11).
The Associated Press/Washington Post: Health Care Reforms Likely To Raise Insurance Costs For The Self-Employed With Higher Incomes
President Obama's health care reforms will be a huge boost to the working poor but are likely to make life more expensive for Aaron Brethorst and others like him. The Seattle software developer and consultant doesn't have a problem with that because he figures he'll be able to afford quality insurance. He says his annual income is in the low six-figures, and he expects to receive better coverage once the Affordable Care Act kicks in (9/12).