Small Businesses are Preparing to Implement the Afforable Care Act
Updated: Friday, August 2 2013, 10:14 PM EDT
Small businesses are preparing to implement the Affordable Care Act.
Harvest Management runs affordable housing complexes, CEO Celia Kendall
is studying up to figure out how she'll manage to implement the Affordable Care Act. "Obviously we want our company, like any company, to grow." said Celia Kendall, CEO of Harvest Management.
Sandra Moody, the Harvest's Insurance Agent, says she expects her client to have a strategy once the Act is implemented. The Affordable Care Act imposes a penalty to companies of 50 or more, if they don't provide health insurance. 2,000 dollars for each employee.
Moody says she doesn't see anything in the law to keep premiums down. Right now Harvest Management pays 100% of their employees insurance, but with rising healthcare costs and new requirements.
Kendall isn't sure she'll be able to hire more people.