New Health Insurance Site for Business Owners
By Julie Edgar
Reviewed by Lisa Zamosky
On Thursday, the Obama administration launched a "one-stop" web site intended to help business owners explore and understand their health insurance options under the Affordable Care Act.
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The new "wizard tool" is for businesses of all sizes. It brings together information from the Health and Human Services Department, the Small Business Administration, and the Treasury Department.
The site, Business.USA.gov/healthcare, allows users to enter their location, size of business, and future insurance plans, and create a menu of information options. It also connects employers to information about tax credits and other aspects of the Affordable Care Act.
Along with individuals and families, businesses with 50 or more employees will be required to either carry health insurance for their employees or face a penalty for failing to do so. The law goes into effect Jan. 1, but the start date for the business requirement has been moved from Jan. 1, 2014, to Jan. 1, 2015. Smaller businesses (those with fewer than 50 employees) may qualify for tax credits if they choose to offer health insurance.
SOURCES: Press release, U.S. Department of Health and Human Services.