Affordable Care Act
FAYETTE - Small business owners met Wednesday with federal officials to discuss how small businesses are faring one year after passage of Affordable Care Act. Small business owners and government officials discussed the costs and benefits involved in insuring employees.
The owner of a Fayette family practice said she benefitted from the special small business tax credit and is now able to provide insurance to employees. Dr. Hope Tinker said her accountant was skeptical when she first requested he apply for the tax credit.
"He thought there would be a lot of paperwork involved and the benefits wouldn't be worth it."
But Tinker said she ended up with a substantial amount of money.
Another Fayette business owner, Caleb Walker, said he thinks it is too early to decide if health care reform has positively impacted small businesses.
"The costs are so high it's like either they can afford it or they can't afford it. I don't see how it could reduce their costs," said Walker.
Walker said providing health insurance to employees is beneficial because it helps a business attract and retain employees. But, the high cost makes it difficult for some small businesses to provide it
For Tinker, the benefit of being able to insure employees is worth the high cost.
"If a health care provider can't provide insurance for employees then what kind of deal is that?"
Tinker said although the quest to insure employees has been difficult, she will continue to look for ways to budget in a way that leaves room to insure employees.