Obama Care Essay

Submitted By Robertfear
Words: 536
Pages: 3
Open Document
How Obama Care will affect Small Businesses’
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. However depending on the industry and loopholes this could include companies with anywhere between 1 and 250 employees. Obama Care creates the Small Business Health Options Program or SHOP, a part of each States Health Insurance Marketplace, where small businesses with fewer than 50 full-time employees can shop for group health plans starting October 1st, 2013. Taxes and tax credits are based off of the number of full-time equivalent employees (FTE) and their average annual wages not solely on the number of full-time employees. Obama Care provides small businesses with affordable insurance options, cost assistance and increased buying power via the SHOP exchange. Since small businesses with fewer than 50 full-time equivalent employees can use the SHOP to get better deals on employee insurance, but aren't mandated to do so, it's safe to say small businesses will not be hurt by Obama Care, but will in fact benefit.
The smaller the businesses the better the tax breaks. The smallest employers are not only exempt from any potential fine for not providing insurance, if they do or want to provide insurance to employees, they can get tax credits to help do that. This will be in effect now for companies with fewer than 25 employees and wages below $50,000 each. If the business offers insurance and pays at least half the employee health premiums, they can receive a tax credit of up to 35% of their contributions. After 2014, the tax credit goes up to 50 percent if the business buys coverage through the insurance exchange. Here's one of the greatest things for small business owners: they can afford health insurance for themselves! The Kaiser Family Foundation surveyed large and small businesses this fall for their regular Employer Health Benefits Survey. Their findings for small business owners were that one in four small business owners is uninsured, roughly the same as for non-elderly adults generally. An estimated 60% of small business owners now buying
Show More

Related Documents: Obama Care Essay

obama care Essay

Obama Care Obama Care, also known as The Health Care Reform Act, was created by President Obama to make health care more affordable and easier to access for more Americans. Although the plan was to help Americans, is everyone really being helped? No, some will be greatly affected by this new change. Throughout the whole change that was created to help all citizens of the United States, some are affected in positive ways and some affected in negative ways. Proponents of Obama Care support the policy…

Words 393 - Pages 2

Obama Care Essay

Obama Healthcare Bill. On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act into law. It upheld in the Supreme Court on June 28, 2012. It’s most commonly known as The Obama Care or Healthcare Act. This act gives over 30 million people without insurance, an affordable option to have a health care that people need. It is created to assist low and middle class Americans and improve the U.S. health care system. This act is extremely supported by the…

Words 836 - Pages 4

Obama care Essay

Detroit is trying to cut down costs by looking to ObamaCare for a bailout as the city leaders try to cut back on the health care of retirees while they enter the bankruptcy proceedings. The city is proposing a plan that should reduce the outstanding retiree health care costs by $5.7 billion. They are trying to take the retirees too young for Medicare and send them to ObamaCare to decrease the burden on Detroit, but it would increase the burden on the federal government. According to the New York…

Words 1817 - Pages 8

Essay on Obama Care

The affordable care act is one of the most important health care moves in legislation after medicare. The widely recognized name for this act is Obamacare. It’s a new law signed by President Barack Obama signed on March 23, 2010. Its main focus is to provide affordable health care, whether the American people like it not. If an American chooses not have health insurance, an individual could be fined. The purpose behind this is to achieve wealth redistribution. It is a giant leap towards a welfare…

Words 874 - Pages 4

Obama Care Essay

Since people often ignore the fact that every citizen deserves health insurance that’s affordable to their income, there will be a big and helpful change coming in 2014. The affordable care act is in motion. There are four main ways every citizen will experience health care once the health care law moves fully into effect. Half of the America will get health insurance through their jobs. About a third will get covered health insurance through the government called Medicare. About one in ten will…

Words 1239 - Pages 5

The Pros And Cons Of Obama Care

Barrack Obama came up with a health care program referred to as the Obama care that targets to provide health care both locally and globally. The president passed the piece of legislation on the affordable health care in 2012. The legislation gave rise to new health care policies to the Americans (Clemmit 7). The Obama Care covers a great proportion of the Americans, and it came with some advantages as well as disadvantages. This academic paper is intended to give an insight into the Obama Care health…

Words 645 - Pages 3

Argumentative Essay On Obama Care

debated into what's to come. While President Obama passed his convincing bit of enactment in 2010, the Affordable Care Act or Obama Care, there was a verifiable polarization inside of the American individuals which ensued. In any case, even with the greater part of the potential financial repercussions that may emerge from new healthcare policies, it is considerable enactment the United States should continue to uphold and support. The new health care policy gives more scope to a bigger rate of Americans…

Words 765 - Pages 4

Pros And Cons Of Obama Care

the so called Affordable Care Act or better known as Obama Care. Americans that looked at the legislation when it was first proposed to a the nation and Congress dislike it from the being for a variety of reasons that surrounded family's security, education and for many their religious beliefs. All three areas were examined and thought by a majority of the American people to be bad legislation for their families and businesses. From the family perspective Obama care initially appeared to be…

Words 489 - Pages 2

obama care analysis Essay

CURRENT STATE OF U.S HEALTH CARE INDUSTRY Looking at today’s scenario, U.S ranks at the top when it comes to health care expenditure which is 16.3% when compared with all the developed nations. Currently, approximately 16% of the U.S population which is approximately 44 million people; are not privileged with any kind of health insurance. Health care in U.S is provided by multi-player private organizations, where 60-65% of health care expenditure comes from Medicare, Medicaid, Tricare, Children’s…

Words 1180 - Pages 5

Research Paper On Obama Care

new President and it seems that all people do is blame and complain about him, with “Obama this, Obama that.” The president has become the idol for blame to the American citizens. This blame can be seen all over the media, blaming him for the economy crisis, Obama care, and supposedly not passing laws that could better the United States. Now, Obama Care was a law created by the president for affordable health care. It was made to offer more benefit rights to the lower and middle class citizens. The…

Words 2744 - Pages 11