According to a recent survey conducted by the National Small Business Association, 58 percent of business owners have little or no understanding of the impact of the Affordable Care Act (ACA) on their business.
Despite that fact, beginning next year businesses with more than 100 full-time employees (defined as working 30 hours per week or more) will have to comply with ACA or face a tax penalty, while businesses with more than 50 full timers will have to comply in 2016 or face similar assessments.
Whether you agree or disagree with healthcare reform, it’s still the law of the land and there is a collective benefit to keeping employees healthy and active. That’s the reason why employers originally got into offering health insurance in the first place---the realization that it was a good benefit to offer because they wanted to keep employees on the job.
However, navigating through the nexus of employee wellness, insurance coverage and profit margin maintenance is often challenging and confusing for non-health experts. To help, the IMS Institute for Healthcare Informatics recently published a report titled Harbingers of Change in Healthcare. Packed with actionable projections on a range of healthcare issues, including ACA, the report serves as grist for the following 4 Healthcare Hacks for Business Owners.