How ‘Obamacare’ Will Affect You And Your Small Business

Written by admin   // February 5, 2013   // 0 Comments

by Kyle Donovan, New Vision in Business

To start this off, let me first say that the real name for “Obamacare” is the Affordable Care Act. The media and Obama, himself, have embraced the name, but it derived from Republicans who attacked and framed the bill as a government takeover of healthcare. In reality, the bill is President Obama’s signature piece of legislation that was passed to reform the failing US healthcare system that left 40 million Americans uninsured.

Personally, I look at Obamacare the way I look at a lot of things in life before I make a decision about it by asking myself does the good outweigh the bad.  Now is there what some would consider “bad” in Obamacare? Absolutely, but there is a ton of good and simply too much good to ignore.

Since the Supreme Court ruled that the Affordable Care Act to be constitutional, Republicans in the House of Representatives have fruitlessly tried to repeal the law more than 30 times standing on the grounds that it unjustly taxes Americans who don’t want to buy health insurance.  Now I support the ACA but I do have friends that are against it.  They argue that as Americans we should not be forced to pay for healthcare and that the bill’s mandate forcing Americans to buy health insurance or pay a penalty violates our American ideals of freedom.  Another friend of mine declared that they might not ever use health insurance and opposes the $1000 penalty tax they would have to pay each year.  To those arguments, I pointed out that I have a condo in Miami in which I pay roughly $1200 each year for a “school tax” even though I am not in school.  In response to my first friend’s argument, I explained my perspective of the bill from a personal standpoint and asked them if they were aware that if someone in their family was diagnosed with cancer, heart disease or a rare disease that they could be denied healthcare? If this happened how would they pay for their treatments? Or if someone they loved had insurance and it got capped at a certain amount and the insurance companies stopped paying for treatment, how would you then pay for it? How would they survive? If someone got sick, lost their job and then lost their insurance they would end up selling their home and emptying their bank account to cover cost.  And what do you do when all of that runs out?  With the ACA you don’t have to worry about these thing happening. 

The health care law will help millions of people and small businesses which pay on average about 18% more than large firms for the same health insurance policies and lack the purchasing power that larger employers have.  Here’s how:

  • The health care law provides tax credits and will eventually allow uninsured people to shop, compare and purchase insurance and receive federal subsidies for the cost in exchanges.
  • Up to 4 million small businesses are eligible for tax credits to help them provide insurance benefits to their workers. Business owners with fewer than 25 employees that provide health insurance may qualify for a tax credit of up to 35% (up to 25% for non-profits) to offset the cost of insurance.  In 2014, this credit will increase to 50% and 35% for non-profits. 
  • Parents can keep their kids on their heath plan until they are 26 years old. 
  • Small businesses don’t have to worry about competing with big businesses who offer health care for their employees as many more people will be covered.  
  • Although everyone will be required to buy health insurance, it will still be from a private company. You will have the ability to choose your own physician, and you and the insurance company will be responsible for payment. 

Overall, the ACA will do a TON of good for the country.  I really don’t understand why people are so against something that will CLEARLY benefit them.  After all, what is more important that one’s health?


40 millions Americans

Affordable Care Act









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