More updates to the Affordable Care Act for Small Businesses

The House has passed an amendment to the Affordable Care Act in order to help small businesses through the transition, but some argue that this bill threatens to undermine the law. Nicknamed the “keep your plan bill,” it allows insurers to continue selling five-year plans through 2019 that fail to meet ACA standards as long as they were offered before 2013. The current law gives the same permissions but only through 2016. 

The current law allows people to keep these non-compliant plans if they are already enrolled in this plan. The bill that the House passed aims to be open for people buying new plans, as well. This means that small businesses that were not previously enrolled in plans banned by the ACA can now buy them for the next four years. 

Whether this bill will raise $1 billion or further cripple the health care system is largely a partisan debate for now as the country waits and sees how the chips fall. The House vote passed with nearly 60 percent in favor of the bill, 247 to 167. This bill is likely to die in the Democrat-controlled Senate, but this is not the end of health care law changes as the debate wages on. Small businesses are encouraged to confer with employment lawyers, experts in the field. Legal counsel is the best way to guarantee that your company is compliant and that no small change goes unnoticed.

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