Affordable Care Act
The Affordable Care Act, also known as “Obamacare,” has recently been given a year extension that now forces employers to provide health insurance for their employees by Jan 1, 2015. Going into more detail, Obamacare will force business owners who hire more than 50 “full-time equivalent” workers to provide government-approved health insurance for each of their employees. Those who fail to do so will have to pay a tax of $2,000 per worker and if employers establish a waiting period to get into the plan, an additional tax of $400-to-$600 per employee will be fined as well.
Employer Time Extention
While the time extension has allowed business owners in Florida time to breathe, many acknowledge that it is something that will eventually need to be addressed and has raised much concern. One major concern for businesses and Florida Obamacare is the fact that The U.S. Department of Health and Human Services (HHS) has yet to release the criteria that defines 50 “full time equivalent” workers. In other words, employers are afraid that although they have less than 50 full time workers, the hours from part-time or overtime workers may equate to 50 total employees. The uncertainty of Obamacare and its policies have caused a great damper on entrepreneurship in Florida as many business models are questioning the future effects of Florida Obamacare.
It will be very interesting to see how the business community in Florida speaks on the matter in the next upcoming months and it certainly will be deserving of attention. Within the next year Florida and the rest of the US will find themselves in the heart of a presidential election campaign. With the campaign at center stage, many Florida business owners will have serious questions about Obamacare will change not only American health care, but American history.
To receive a free quote or submit any questions you have about Florida Obamacare, please contact an agent today!
We are health insurance consultants / agents with many years of experience in the health insurance field and access to multiple health insurance company’s plans and pricing. We will work with each you to find the right group or individual health insurance plan to fit your needs and budget. Serving clients in and around Greater Jacksonville, Orlando, Tampa, Miami, Florida and more. Contact us at 866-217-2873.
Rodger S. Kamuf is registered with and offer securities through Kovack Securities, Inc. Member FINRA/SIPC. 6451 North Federal Hwy, Suite 1201, Ft. Lauderdale, FL 33308 (954)782-4771. Advisory Services offered through Kovack Advisors, Inc. a SEC registered investment advisory firm. RK Asset Management LLC is not affiliated with Kovack Securities, Inc. or Kovack Advisors, Inc. Registered Representative may only conduct business with residents of the states and/or jurisdiction for which they are properly registered. Linked sites are strictly provided as a courtesy. Kovack Securities, Inc. does not guarantee, approve nor endorse the information or products available at the sites, nor do links indicate any association with or endorsement of the linked sites by Kovack Securities, Inc. nor Kovack Advisors, Inc.