FAIRFAX, Va. -- While debate continues in Washington over the Patient Protection & Affordable Care Act (H.R. 3590) even after being signed by President Obama, the fact remains there is a new law of the land with regards to health care. With many questions remaining in business owners' heads, industry association SIGMA had its legal counsel outline the major provisions of the bill that affect its members.
"The measure will not require employers to provide health insurance coverage," the detailed memorandum states, "but it does impose certain tax penalties on any employers [image-nocss] that have over 50 employees and that do not provide a requisite minimum level of coverage."
As reported Wednesday in CSP Daily News, many business owners are "scared" because they don't know exactly how much the newly signed bill will cost them, and a poll of readers showed more than 80% expect the bill to have a "negative" effect on their business.
Meanwhile, a new CSP Daily News Poll shows 65% of voters believe challenges to the act will be successful in overturning the bill. Until then, however, the SIGMA memorandum provides guidelines and directions for business owners to consider as they prepare to meet the new requirements.
"The bill would create new exchanges in which people without health coverage could buy insurance from participating private insurers," the memorandum states. "Many would get help from the government, through sliding-scale tax credits that would cover much of the cost of premiums. Small businesses would get tax credits, as well, to help them provide insurance for workers."
Click here to view the complete SIGMA memorandum.
Farifax, Va.-based SIGMA, the Society of Independent Gasoline Marketers, aims to lead the industry through every major regulatory and legislative battle facing motor-fuel marketers. Since its founding in 1958, SIGMA has grown into a respected association of 300-plus members.
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