ObamaCare could have many implications for the nation’s small businesses, and the majority aren’t prepared.
With the potential for health care reform to cause some issues, it is important to ensure small business insurance portfolios are up to par, to prevent any other problems in terms of liability.
According to a survey from the U.S. Chamber of Commerce, two-thirds of small businesses aren’t ready for ObamaCare.
“Excessive regulation is having a crippling effect on job growth among small businesses, as our latest small-business survey makes clear,” said Rob Engstrom, the Chamber’s senior vice president. “In fact, the only thing that scares small businesses more than the current business climate is what Washington bureaucrats will do next.”
Small businesses still have a little time to prepare and further understand the Affordable Care Act, as it isn’t expected to be fully implemented until early 2015, HealthCare.gov noted. That being said, it is important to address any and all issues that could rise from health care reform before that date, as small business owners won’t want this to impact their day-to-day operations too much.