Obamacare and Small Businesses

By Sandy Botkin

I have been getting a lot of questions about how Obamacare applies to small businesses. At the outset, most of the strategies such as heath savings accounts, medical savings accounts and flexible spending accounts are still available. As a small employer with less than 50 employees, you do NOT need to provide health insurance to your employees. If you do, however, provide coverage, you have several choices among those selected:

1. Section 105, self-insured medical plan
2. A flexible spending account (FSA)

3. A Health Savings Account (HSA)

I want to note that if you do provide group health insurance, you need to pay at least 50% of the cost of the plan. [more...]