On the heels of a recent announcement from the White House delaying the employer mandate component of the Affordable Care Act, the Naperville Area Chamber Commerce brought together experts on the new law to break it down for local business owners.
The event featured presentations and a panel discussion.
While many business owners appreciate the delay to figure out how they will comply with the law, many are concerned about their bottom line.
Businesses with 50 or more full time employees will have to offer health care coverage. A full time employee, under the new law, is anyone who works 30 hours a week or more.
An employee then has the option to enroll through their employer or buy insurance from the state exchanges set up by the law, or pay the fee for not having health insurance.
The law has also created subsidies and tax credits for those who qualify.
165 plans will be offered as part of the Illinois exchange. The prices are expected to be released later this month.
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