Here are some ins and outs of health-insurance
reform and its effects on your bottom line.
THE FEDERAL AFFORDABLE CARE ACT COMES AT A TIME
of rising health-insurance costs for small business owners. Annual
premiums for employer-provided family coverage grew to just under
$16,000 in 2012—a rate some 4% higher than 2011, according to
a report from the Kaiser Family Foundation (kff.org). Will the new
federal law help put a cap on rates? If you have 50 or fewer
employees, you have a good chance of turning the new federal law
to your advantage. "Generally speaking, the law is more favorable to
smaller businesses," says Shawn Nowicki, director of health policy
at Northeast Business Group on Health (nebgh.org), a coalition
of 175 employers, unions and healthcare providers. Nowicki points
to a number of advantages geared toward the smaller operators.
These include competitive statewide insurance exchanges, premium
reform and tax credits.
Continued on page 40
36 June 2013 | beautystorebusiness.com
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by Phillip M. Perry