Should Small Businesses Fear the Healthcare Reform Act?
Since the passing of the Patient Protection and Affordable Care Act (PPACA) there has been a lot of noise about how all of this will impact small business. For the most part, the noise consists of warnings that it will hurt small business with very little specific information about exactly how. For the reasons explained below, the potential negative impact on small business is probably greatly exaggerated. By addressing some of the problems currently faced by individuals and by small business, the benefits could outweigh the relatively few short-comings that have been identified so far. We know that the lack of reasonably priced healthcare to individuals and the exorbitant cost of providing decent healthcare plans to their employees has hurt small businesses for years. Many would-be entrepreneurs have been tied to their existing job with a large company because they could not afford to lose the insurance benefits for themselves or their family members with expensive medical conditions.
