How will President Obama's health care law impact small business - ABC 33/40 - Birmingham News, Weather, Sports
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What would you do if you owned a small business and discovered that under the new health care law you could follow the law and provide health insurance to your employees, or you could pay a penalty, which might be cheaper. President Obama says under the plan costs will go down and options will increase.
Many small business owners say it's just too soon to say how they'll handle this. Off camera, many owners, told ABC 33/40 they only hire part-timers and most of them have less than 50 people on staff.
Others say they say they've always provided health care for their employees. But the overall consensus from these business owners is they simply need more time to figure out what they will do moving forward. Rosemary Elebash, with the National Federation of Independent Business, however, says she already knows the impact this will have on small businesses. And she said it doesn't look good.
"When you look at those kind of taxes that are going to be raised. Particularly on small business owners, they're going to look at the fact of whether I stay open or I close. certainly this is a deterrent from hiring new employees," said Elebash.
In the past premiums have often been higher for small business owners than for larger businesses. The National Federation of Independent Business has vowed to fight for a full repeal of the law.
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