As some of the Obama administration’s health care reform legislation goes into effect in 2014, many businesses are left wondering what they should do about their employee’s health insurance coverage.
One major law that will be enacted in 2014 is that small businesses (under 50 people) will no longer be required to provide coverage for their employees. These employees will now have the option of buying into state-based insurance exchanges.
If your business is larger than 50 people, it’s mandatory to provide or pay a $2,000 per employee fine. Some small businesses may be tempted to drop insurance coverage and perhaps bump their employees’ salaries.…
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