The Unicorn HRO Blog

Planning for Health Care Reform – Getting Ready

Posted Tuesday, January 24, 2012 by Unicorn HRO

While it isn't dominating the headlines quite like it did when first introduced, the health care reform that is approaching still looms large over businesses.  While some aspects may be eliminated if challenged, there are still many other facets of the law that will have a direct impact on health insurance coverage.  Planning for health care reform is one of the smartest things that any business of any size can do.  In some cases the laws may not affect you in the least, in others they may have a profound impact.  When planning for health care reform, it's important that you know what aspects of the law will affect you and what you'll need to do in order to comply.  Simply put, planning for health care reform is one of the most important things any business can do right now.

Health care costs are rising, and insurance isn't cheap.  Currently, only about forty nine percent of very small businesses provide some form of coverage to employees.  Certain small businesses may be able to qualify for tax credits to help offset these costs and provide insurance, and your qualifications for those credits are one aspect to consider when planning for health care reform.  If you have less than ten employees making less than twenty five grand a year, you'll be able to get 35% tax credits.  If you have eleven to twenty five employees and are planning for health care reform, you'll still likely get partial credits.  Most experts at planning for health care reform agree that insurance costs overall will likely be lowered by around eight percent.

Pools are important to think about when planning for health care reform.  Basically, if you have less than one hundred employees then you'll likely be able to take advantage of insurance Pools, another aspect of planning for health care reform that shouldn't be overlooked.  These pools help offset the costs of insurance and make it more affordable.  If you're planning for health care reform you'll need to look into this option as well since it may very well make insuring your employees much more affordable.

Planning for health care reform now is important, even though the laws don't go into effect until 2014.  When they do, any business with over fifty employees will be required by law to either provide insurance for their workers or pay seven hundred and fifty dollars per employee each year to the government to offset their costs.  Planning for health care reform, then, should involve you comparing costs of insurance to costs of fees and determining what your best option is.  It may seem like a hassle, but planning for health care reform can help you be ready when the laws kick in and help you avoid fees or other headaches that may come as a result of it.

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