ACA Primer: Next Steps for Maine Businesses under the Affordable Care Act

James McCarthy

Source

Mainebiz

Date

5-13-2013

Pages

26-30

Abstract

“Focus Small Business” piece on what Maine businesses need to know and do to comply with the Affordable Care Act. Rick Morrone and Ellen McPherson of Employee Benefits Solutions of Portland have developed a primer for employers. First, employers need to determine if they are “small” or “large” as defined by ACA law, a determination that may involve some complex calculations. The next step, for large employers, is to decide whether to offer coverage or pay the fine. Finally, companies that plan to use Maine’s Health Insurance Exchange which will open on Jan. 1, 2014, need to start communicating with their employees and should understand the role that tax credits could play, although details are still very much in flux. With two sidebars, one that features a checklist for small businesses, and the other on what role the state might play in a federally-run health insurance exchange.

Subjects

Insurance, Health, United States Patient Protection and Affordable Care Act, Employee Benefits Solution Portland

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