Business Owners Are Not sure About How To Prepare For ObamaCare

Fifty-two percent of business owners don’t know how to prepare for healthcare reform changes. Of the remaining, 24% plan to reduce benefits; 13% plan to rebid their policy; and 11% plan to reduce business expenses, according to a study by Newtek Business Services. Barry Sloane of The Small Business Authority said, “Many small and independent business owners need to seek advice on how to apply for available tax credits. They have not yet calculated the benefits of purchasing insurance or paying the fine, in the form of a tax that may be required for an uninsured employee. There are many unanswered questions at this time for small business owners in an uncertain economy. The cost of healthcare, as well as the changes in plans and benefits are adding to the uncertainty in the economy,” he added. For more information, visit http://www.thesba.com.

Last Updated 11/25/2020

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