The New Health Insurance Bill for Small business
© skippyjon
President Obama is expected to sign the new Healthcare Bill into law today. So what does it mean for small business owners?
In an article from USA today yesterday the expected results are still unclear. For those of us that are home-based, the future may even be murkier.
For employers
•By 2014, employers who have more than 50 employees must offer health insurance benefits or pay penalties. Companies with 25 or fewer employees who meet certain wage requirements will also be able to get credits toward health insurance purchases.
•By 2014, small-businesses owners, the self-employed and those who don't get work-provided coverage can get benefits through Small Business Health Options Programs (SHOPs). These state-run marketplace exchanges will work with carriers to pool insurance options, with the hope that costs will be lower for a larger, more powerful, group.
Firms will get a one-stop source to find out about insurance, says Shawn Nowicki, director of public policy at HealthPass, a commercial health insurance exchange.
So what should we do in the meantime?
Tiare Rath offers 5 tips to reduce healthcare expense for small business owners.
1. Keep employees healthy (get those flu shots !)
2. Reduce coverage
3. Health Savings Plans
4. Join a group
5. Shop around
What are you doing to reduce healthcare costs for you, your family and your employees (if applicable)?
Proactive seems the best route – encouraging fitness and wellness programs. Here is an article on how to start a wellness plan. Although we don't have a big office with tons of employees – that doesn't mean we don't deserve to adopt a wellness plan for ourselves.
What are you doing to reduce the cost of healthcare for your business?