Friday, November 13, 2015

Small Business - still trying to figure out the Affordable Care Act?

As the presidential race heats up, the Affordable Care Act (ACA) continues to be a key topic. But what ever happens the next election, small business owners will need to prepare for a reporting requirement starting in January 2016.

Image courtesy of stockimages
I found this article on the Lexology Blog during my daily reading and thought it might be helpful to other business owners:

"The Affordable Care Act (ACA): what employers need to know"

It offer an overview of the act and some of the key provisions for small business. It explains that a small employer is 2 - 50 "Full-Time Equivalent" (FTE) employees. To be an FTE employee a person either works 30hrs/week or 130hrs/month. The article links to a calculator to help employers calculate how many FTE employees they employ.

It also talks about reporting requirements, the insurance exchange set up for small business, and required disclosure to employees. If you are a small business owner and your accountant has been talking to you about ACA, this article may help you understand what he or she is talking about.

If you want assistance, legal representation, or just want to know more about Mark Medvesky or our firm of Wells, Hoffman, Holloway & Medvesky LLP, check out our website at

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