NEW YORK CITY — It’s the nation’s most comprehensive health insurance reform since Medicare. And it’s been endorsed as constitutional by the U.S. Supreme Court.
Now, how will the Patient Protection and Affordable Care Act (PPACA) affect your dry cleaning business? Will your premiums go down? Will it be easier to shop for insurance? Will the available policies offer better coverage? And will you be protected from those profit-busting price hikes that so often occur when one employee in a small group gets seriously ill?
We’ll answer your most important questions at the end of this article. Here’s one thing to get out of the way first, though: No employer will be required to provide health insurance. However, some employers, as you will see, will pay penalties if they do not provide insurance and their employees decide to buy insurance from the new statewide insurance pools.