Written by Phil Cerroni
By Jessie Burke
The Greater Irving Las Colinas Texas Chamber of Commerce hosted a panel discussion on the Affordable Care Act (ACA), sponsored by HMS Employee solutions at the Los Colinas Four Seasons on March 8.
One of the ACA’s major provisions is the introduction of the Employer Mandate, to begin in January 2014. This states that employers with 50 or more full time employees will be required to offer minimum essential health care coverage or be made to pay a penalty fine in taxes. (Full time employees are considered those who work 130 hours month.)
Peggy Bass, Director of client services for Prescott Pailet Benefits, says the businesses that will face the biggest challenges going into this will mainly be those who did not previously consider offering coverage to full time employees, such as businesses in hospitality and retail. It could also impact businesses that are currently expanding, as crossing the 50 employee mark at any point will then require the coverage to kick in, possibly discouraging small businesses from growing.