Health Care and Business

The effects on small businesses and large corporations are slowly seeping into the consciousness of all individuals. How the health care reforms will affect all individuals and businesses is yet to come to realization. Little by little, the realities of what is included in the health care form bill and what is not included is slowly filtering through for public consumption.

Those individuals who are employed with a large corporation have already begun to receive booklets and pamphlets from their employer breaking down some of the facts and fiction of what the health care reform entails. Many of these same employees are experiencing sticker shock as they were led to believe the overall annual cost for health insurance would be reducing.

Maybe that is one myth that is coming to fruition and the facts that employees are facing are sending them into a tailspin. Many are seeing their employer affordable health insurance premiums doubling, and in some cases tripling which is going to mean higher premium payments.

Employers are suffering the same attacks of anxiety as their employees and now some must re-think if they want to continue to offer health insurance to their employees. Under the health care reform bill there are new laws that all employers as well as individuals are now obligated to deal.

Employers can now decide if they want to continue the offering of employer based affordable health insurance and be obligated to pay the higher average monthly cost for health insurance. If these same employers decide to forfeit the offering of health insurance they will be obligated to pay a two thousand dollar fine to the Internal Revenue Service for each full time employee on their payroll records.

As all citizens are realizing, the cost of health insurance and the cost of health care is spiraling higher and higher and there does not seem to be any end in sight. Large corporations may have the ability to ride this turbulent crisis for a longer period of time, but they too will find the high cost of health insurance is more than they care to spend.

The small businesses will have opted out of offering health insurance long before and willingly pay the fine through the Internal Revenue Service just to try to keep their small business afloat. Those who are interested and willing to wait for the health insurance exchanges to materialize will have a long wait. The health insurance exchanges will not be available until 2014.