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Released: December 01, 2012
Pay the penalty, or insure your staff?
Source: Assoicated Press (Washington Post) (Free Registration)
Rose Wang looks at her staff of 70 employees and wonders if she’ll have to lay off some of them to comply with the health care law.
Wang’s worry is a gut-wrenching dilemma that many small business owners are concerned that they may face. Now that President Barack Obama has won re-election, the health care overhaul, which presidential candidate Mitt Romney promised to dismantle, is marching forward. Companies must decide before the start of 2014 what they’ll do to comply with the law. Right now, no one knows how much the insurance will cost, and owners aren’t sure if they’d be better off not buying it and paying a government a penalty of $2,000 per worker. Some owners are even threatening to defy the law. The big challenge for most small businesses is that they just don’t have enough information to make concrete plans.
Read Full Article: Pay the penalty, or insure your staff?
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