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Perry Chamber of CommerceNovember 7, 2013

The ACA and Small Businesses

Peter Williams

University of Georgia Small Business Development Center

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Disclaimer

This presentation expressly intended for

educational purposes only and does not

constitute legal, tax, or insurance advice.

Readers/listeners should consult their legal,

tax, or healthcare advisors to discuss how

these matters pertain to their individual

business circumstances.

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UGA Small Business DevelopmeCenter

Partnership between UGA and the U.S. Small Business Adm

Forty experienced consultants operating state-wide offer, atconfidential, individual consulting to businesses and entrep

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The ACA and Small Businesse

We have a new financial model where you dont get paid anyt

So

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Theres a Lot to Cover .

Photo credi

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Self Employed Business Owne

Business owners with no employees must obtain coverage fthemselves (the Individual Mandate)

Estimated 25% of small business owners are uninsured*

May purchase individual coverage through Insurance MarkeMay qualify for tax credits/cost sharing reductions

*Source: Sm

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Small Business

How many full-time equivalent employees (FTEs)?

50 or more Large Employer

Up to 50 Small Employer

24 or Fewer Eligible for tax credits

FTEs Under ACA

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Large Employers

Small Businesses with greater than 50employees will be rebeginning in 2015, to Play or Pay:

1. provide health insurance benefit (tax-deductible); or,

2. make a per capita employer shared responsibility payment (n

deductible)

Source: Small Bu

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Large Employers

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The Big Question

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Small Business Health Options Pro

SHOP is part of the new Health Insurance Marketplaces (tExchanges)

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Whos Eligible for SHOP?

Once enrolled, employer can grow and still remain in SHOP

Source: Small Bu

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UGA Health Navigators

UGA College of Family & Consumer Sciences

UGA Navigator for Houston County is Tamra Allen (478-864-877-762-8442)

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Resources

http://business.usa.gov/healthcare

www.healthcare.gov

www.sba.gov

www.kff.org

http://www.fcs.uga.edu/hace/navigator.html (Google UGANavigators)

http://business.usa.gov/healthcarehttp://www.healthcare.gov/http://www.sba.gov/http://www.kff.org/http://www.fcs.uga.edu/hace/navigator.htmlhttp://www.fcs.uga.edu/hace/navigator.htmlhttp://www.fcs.uga.edu/hace/navigator.htmlhttp://www.kff.org/http://www.sba.gov/http://www.healthcare.gov/http://business.usa.gov/healthcare

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Resources

Affordable Care Act 101: What the Health Care Law Means

Businesses (Small Business Administration)

Affordable Care Act 201: Employer Shared Responsibility P(Small Business Administration)

Navigating the New Health Care Law: For Sole Proprietors aBusinesses 50 Employees or Less (Pennsylvania SBDC)

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Disclaimer

This presentation expressly intended for

educational purposes only and does not

constitute legal, tax, or insurance advice.

Readers/listeners should consult their legal,

tax, or healthcare advisors to discuss how

these matters pertain to their individual

business circumstances.