By US Daily Review Staff.
The Supreme Court’s Ruling on Healthcare today will greatly impact not only all Americans directly in a potential mandate of care, but how businesses of all sizes extend their care plans and the amount that it will cost them, potentially at a great expense. Small businesses stand to have the most to lose as they largely do not have the capital that larger businesses do to absorb potential rises in overall cost.
“It is hard for companies to balance cost with taking care of their employees,” states Kenneth Wisnefski, serial entrepreneur and small business owner/CEO of WebiMax. “In this past year, we have had to make several healthcare decisions as a small business, and in each case the company cost – employee benefit line was a difficult one to toe, and I know we as a business are not alone.”
Additionally, Wisnefski feels:
- Under the law, there are restrictions on premiums, and this makes it easier for small businesses to control overall plan costs. If this aspect of the Affordable Care Act is struck down, small businesses will have a harder time controlling expense and will be forced to make the difficult decision to pay more as a company or have employees shoulder increasing costs.
- If the additional reforms that are present in the law are not upheld, then small businesses would miss out on specific tax credits as well, which couldnegatively impact the limited resources smaller companies have for new initiatives, hiring, and general growth.
Ken Wisnefski is also a contributor on the Price of Business, a business show in Houston, TX and a media partner of US Daily Review.