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The Affordable Care Act: Major Changes Announced

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Just In: President Obama has just unveiled an extension…a one-year plan to allow insurers to keep selling existing plans that are about to be cancelled due to the law’s minimum benefits requirements. Read more here.

 

Franchise owners need to rejoice:

The Obama Administration has just announced that it’s going to delay implementation of the Affordable Care Act’s (ACA) employer mandate and reporting requirements until 2015.

Franchise owners can think about growing their businesses again, I guess.

From The White House blog

“As we implement this law, we have and will continue to make changes as needed. In our ongoing discussions with businesses we have heard that you need the time to get this right. We are listening. So in response to your concerns, we are making two changes. “

Here they are:

“First, we are cutting red tape and simplifying the reporting process. We have heard the concern that the reporting called for under the law about each worker’s access to and enrollment in health insurance requires new data collection systems and coordination. So we plan to re-vamp and simplify the reporting process. Some of this detailed reporting may be unnecessary for businesses that more than meet the minimum standards in the law. We will convene employers, insurers, and experts to propose a smarter system and, in the interim, suspend reporting for 2014.

Second, we are giving businesses more time to comply. As we make these changes, we believe we need to give employers more time to comply with the new rules. Since employer responsibility payments can only be assessed based on this new reporting, payments won’t be collected for 2014. This allows employers the time to test the new reporting systems and make any necessary adaptations to their health benefits while staying the course toward making health coverage more affordable and accessible for their workers.”

 

This is great news…welcome news, really, for franchise owners all over the United States.

If you’d like to keep up with changes and updates with regards to The Affordable Care Act, bookmark Healthcare.gov.

Sometimes, our government listens.

So keep talking.

You can even leave some comments here.

 






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About The Franchise King®

My name is Joel Libava, and I'm the author of Become a Franchise Owner! In addition, I'm a franchise ownership advisor. I teach people the best way to choose, research, and buy franchises.

  • http://mcspocky.com/ McSpocky

    t’s great that the US is finally taking a step in the direction of universal health care. The United States has been the only industrialized country in the world without universal care, and stuck with a pay or die system. Over the years I have watched people have to choose between food and prescriptions, between seeing the doctor and paying rent, etc. I am so thankful that we are finally moving towards joining the rest of the world in the 21st century.

    As for the employer mandate, they have had that in Hawaii for many years. when I lived there in the 80s, it was already law. Businesses there don’t have any problem with it, they consider it just a part of doing business. Since the insurance pool is much larger there because of this, the cost to the employer is much less than it is for an employer in California for example, where not all employers provide insurance.

    I know that something new can be scary, but I’m also sure that once the Affordable Care Act has been fully implemented, people will appreciate it.

    With the parts already implemented, it has already lowered cost and it has already saved lives.

    • http://thefranchiseking.com/about-joel-libava-the-franchise-king The Franchise King

      Thanks for stopping by.

      I have some doubts about the ACA. Most of them come from the fact that it seems to be too complicated. 3000 pages complicated.

      I hope it works. For all of us!

      JL