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Begin Preparing Now For the Affordable Care Act

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
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  Article Summary  
Now that the Patient Protection and Affordable Care Act has survived a Supreme Court challenge and the Presidential election, it is ensured to remain in place for the foreseeable future. The uncertainty surrounding the law led some businesses to delay preparing for the Act, but now most legislation will go into effect during the next year. The Employer Mandate has the biggest potential impact on businesses and is scheduled to become effective on January 1, 2014.

This article looks at the Employer Mandate and suggests a first step of determining if your business will be subject to the requirement to offer a qualified health insurance plan. Reviewed are various full-time employee scenarios, potential penalties, how the law defines “affordable,” and strategies to consider around whether and how to offer a plan to your employees.

Los Angeles and Southern California CEOs and CFOs should begin preparing now for the potential impact by weighing and choosing from a number of important strategic decisions that must be made before the end of this year. A provider of outsourced CFO services can help you crunch the numbers and think through strategies so you make the best decisions for both your company and your employees.

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