Myth vs. Fact

America’s Small Businesses and the Affordable Care Act:

Myth vs. Fact

Myth: All employers are required to buy health insurance for their employees under the Affordable Care Act.
 Fact: The Affordable Care Act does not require businesses to provide health insurance to their employees.

-Starting in 2015, businesses with 50 or more full-time or full-time equivalent employees that do not provide coverage to their full-time employees may be subject to an Employer Shared Responsibility payment.
 -However, 96 percent of America’s businesses are too small to be subject to these rules.

Myth: Since my state hasn’t set up its own health exchange, the Affordable Care Act doesn’t apply to me.
 Fact: Every state will have an affordable insurance Marketplace (commonly known as an Exchange) for self-employed individuals and small businesses, opening for enrollment on October 1, 2013.

-Depending on where you live, the Marketplace will be operated by either your state or the federal government, or through a partnership with the state and the federal government.

-Regardless of location, insurance plans in the Marketplace are offered by private companies, and all plans offered will cover the same core set of benefits called Essential Health Benefits. No plan can turn you away or charge you more because you or your employees have an illness or medical condition.

-For more information about the Marketplace for small employers, known as the Small Business Health Care Option Program (SHOP), call 1-800-706-7893 (TTY users: 1-800-706-7915), Monday through Friday, 9 a.m. to 5 p.m. EST.

Read more HERE