What do I need to know?
The Manhattan Beach Chamber of Commerce is constantly searching for ways to keep our local business community informed on issues that matter to them. To that end we are proud to present the following information and resources about health care reform to help you prepare for implementation of major provisions of the Patient Protection and Affordable Care Act (PPACA):
- The Penalty Calculator assists businesses in figuring out whether they must offer coverage and what the potential penalty might be under the employer mandate.
- The Coverage or Penalty Chart helps a business determine if it has to offer coverage and/or pay a penalty due to the employer mandate.
- The Added Costs Table highlights the revenue provisions of the law, the effective date, and the revenue impact (PDF).
- The Workplace Wellness page includes a brochure to help employers set up a workplace wellness program.
- The Video page provides recent video coverage of how the PPACA is affecting the business community.
- The FAQ page offers in-depth answers and definitions to help businesses navigate the employer mandate.
The Employer Mandate: Coverage or Penalty?
Employers voluntarily provide health care coverage to more than 170 million Americans. However, the employer mandate, a major provision within the new law, puts heavy regulatory burdens on the business community, effectively deterring growth and creating further economic uncertainty.
The employer mandate, which takes effect in January 2015, will be the first time that a federal mandate requires employers to offer prescribed health care coverage or potentially face a penalty (see the Coverage or Penalty Chart).
The specifics on how this will affect your business depend on a number of factors, including whether you are a small employer or an applicable large employer, whether you will self-insure your coverage, whether you will be purchasing fully insured coverage in the small group and individual market or the large group market. Learn more here.
