Wednesday, April 15, 2015

Fortune Business Solutions reaches close to 500 Million Annually in 2014

Our Mission:  

The Fortune Business Solutions team is dedicated to providing your company with innovative, hands-on Human Resource Management and comprehensive and cost-effective employee services and benefits that allow you to attract and retain high quality personnel. The result is a better working environment for your employees and, therefore, increased efficiency and profitability for your company.

Established: October 1997

Number of Employees: 18,000+

Revenues: $488,489,781 Million Annually (2014)

Thursday, April 2, 2015

How Will ObamaCare Affect Your Small Business?

March 24, 2015

While the majority of employers and employees won’t pay any additional taxes under the ACA, there is an increase to the current Medicare part A tax for businesses and employees making over $200,000. There is also a requirement for employers with 50 full-time equivalent employees or more to offer health insurance to full-time workers or pay a penalty starting in 2015 / 2016.

FACT: 90% of US firms have less than 20 full-time employees and about 96% of firms have fewer than 50 full-time employees. More than 96 percent of firms with 50 or more employees already offer health insurance to their workers. Less than 0.2 percent of all firms (about 10,000 out of 6 million) face employer responsibility requirements.  

ObamaCare helps most small businesses. The fact is, small business owners have historically had a much harder time providing themselves and their employees with insurance due to rising health insurance costs; meanwhile bigger businesses have remained largely unaffected due to the leverage buying large group health plans gives them. This problem has only gotten more severe in the past decade.  

A report by the common wealth fund in 2006 showed the nation’s smallest firms pay an average of 18 percent more in health insurance premiums for the same benefits than those in the largest firms, while costs of providing health insurance to small business employees had been rising higher than inflation rates prior to the Affordable Care Act.