Affordable Care Act and Businesses - KULR-8 Television, Billings, MT

Affordable Care Act and Businesses

Posted: Updated:

The Obama Administration delayed parts of the Affordable Care Act involving employer health plans last month, meaning businesses have until 2015 to get ready for the upcoming changes.

However, Avitus Group CFO Steven Bentley says figuring out the system is a worry many business-owners are dealing with already. If a business has at least 50 employees, it must provide health coverage or face penalties. Those start at $2,000 a year per employee. But here's the kicker, part-time employees do count toward the fifty full-time employees.

"And of course, every minute that an employee is worried about figuring out healthcare requirements between the hours of 8 and 5," Bentley said. "That's time they're not working. So from a productivity standpoint, it's in everybody's best interest to get this thing figured out as quick as possible."

Full-time is now considered thirty or more hours per week. Avitus Group will host seminars for business owners to help them understand their options in the future. The group also has webinars posted on their company website.