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Questions and answers about the Affordable Care Act

SMALL BUSINESSES

Q: What does Obamacare mean for businesses with 100 or fewer employees?

<MC>A: In some cases, if they currently offer health insurance and want to keep that plan, they may be grandfathered in. Grandfathered plans would remain as they are and be exempt from certain Affordable Care Act requirements, including:

<BL@199,12,11,10>Having to cover preventive care services without cost sharing;

<BL@199,12,11,10>Having to offer new minimum health benefits;

<BL@199,12,11,10>Providing an appeals process for coverage decisions.

<MC>Q: Will businesses with fewer than 50 employees have to offer health insurance?

<MC>A: No. And if they don't, they will not have to pay a penalty.

But if they want to, they are eligible to purchase health plans to offer employees through the insurance marketplace for businesses, SHOP, the Small Business Health Options Program. They also can buy on the open market. In either case, businesses can use a broker, and that may be advisable due to the complexities of insurance.

<MC>Q: How are businesses with 25 or fewer employees affected?


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