Small Business Member Meeting – The Affordable Healthcare Act and its Impact on Small Businesses

Posted Date: 
June 19, 2013

Julie Verratti, Advisor, U.S. Small Business Administration, addresses the MCCC Small Business Member Meeting

Vice-Chair Lisa Cines welcomed MCCC Members and introduced Julie Verratti, Advisor, U.S. Small Business Administration.

Ms. Verratti gave a high-level presentation regarding the Affordable Healthcare Act and its impact on small businesses. At the end of the meeting, a member described it as the most clear and informative presentation on this topic.

The Affordable Healthcare Act is an important topic to discuss, in fact, according to the National Federation of Independent Business, “Since 1986, the #1 concern for small businesses every year has been access to affordable health care. Small businesses usually pay an average of 18% more than their larger counterparts for the same plan.”

Ms. Verratti explained the parameters behind a universal question: how will my business be affected by the Affordable Healthcare Act? The answer is dependent upon the number of full-time (or full-time equivalent) employees and the average salary. She spoke about how businesses would be specifically impacted by the implementation of this plan and its provisions based upon the number of employees. She provided further detail about employer shared responsibility provisions (ERSP), small business healthcare tax credits and employer responsibilities when qualifying and enrolling in plans.

MCCC members asked questions about the impact of the Affordable Healthcare Act and Ms. Verratti replied that once it has been in implemented and measured for a year we will know more about its impact, but ultimately, people without access to health insurance will soon have the opportunity for coverage. This will have a more positive than negative impact. Since the Act regulations varies for government contractors, a GovConNet Member Meeting on this subject will take place in July.

CLICK HERE to download Julie Verratti's presentation
 

MCCC Strategic Partners