Tools

Business Owners Attend Health Care Reform Seminar

by KREX News Room
by Jordan Sherman

Story Created: Sep 19, 2012 at 12:32 PM MDT

Story Updated: Sep 20, 2012 at 9:42 AM MDT

GRAND JUNCTION, Colo.- The Grand Junction Chamber of Commerce hosted an informational health care seminar Wednesday informing employers what options are available once regulations are enforced.

Nearly 20 local business employers came out to listen to local experts about what they could be facing with the Affordable Health Care Act reform.

Owner of Dos Hombres and co-owner of Rockslide and Dream Cafe, Scott Howard, was on hand for the meeting and said, "It seems really complicated. I think we're going to have to hire experts to tell us where we stand, whether we're a large employer or small employer, what the regulations are, what our options are and if we have to pay penalties."

Some penalties could be assessed based on the number of employees companies have on the books and how their offered health care stacks up compared to the exchange, or universal health care.

Attorneys from Hoskin, Farina and Kampf explained the penalties and tax credits associated with the reform and advised employers to look at things sooner rather than later.

"If one full-time employee goes out and gets a subsidy through the exchange, then you owe a monthly penalty of $166.66 times the total number of full-time employees that you have," said attorney Jarrod Pearson.

Pearson also says that roughly 25 percent of the regulations are set in stone, while others are still being finalized.

While the information is out there, Pearson says it's important for business owners to educate themselves right now.

"Talk to your attorney to figure out, 'am I an employer subject to these penalties? If I am how do I figure that out? How do I start anticipating these costs for 2014 and moving forward?,'" said Pearson.

Some regulations go into effect Jan. 1.

You have indicated this comment should be removed.

Close

The comment has been submitted for review. Thank you .

Disgusted said on Wednesday, Sep 19 at 11:48 PM

Hmmmmm. How about that? Sure is a shame that nobody sounded an early warning about the nature of this bill........

Add a comment

Name:

Comment: 1000 Characters Left

KREX - News, Weather, Sports for Grand Junction | Montrose | Glenwood Springs - Coverage You Can Count On and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Most Popular
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
News Channel 5 Weather