Kabbage’s Take on the Affordable Care Act

At Kabbage, we get to talk to lots of small business owners. And, one of the issues commonly shared is concern over health care costs and insurance. From providing health insurance for employees to understanding the Patient Protection and Affordable Care Act, there’s a lot to consider when it comes to health insurance coverage now and into the future. 

One thing is for certain, big changes are just around the corner for employers, employees, as well as for health care providers and insurers. Trying to make sense of the new healthcare act, commonly called Obamacare, is no easy endeavor. So, we thought we’d provide a brief synopsis of some of the more important aspects that affect small business owners.

Health Insurance Required
First off, the health care bill will require nearly every American to obtain health insurance beginning in 2014. The law will expect that most workers will obtain this coverage through their employers. Larger employers will be required to offer health insurance to their workers. Businesses with fewer than 50 employees are exempt from having to provide health insurance. However, health insurance will become available to both individuals and small businesses through state-run “exchanges.” These exchanges are designed to make insurance companies compete for business in the marketplace and to lower the cost.




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