The InSource Group monitors a variety of factors that can impact resource management for our clients. The Affordable Care Act (ACA) has been on our radar recently. This legislation could have a significant and immediate effect on businesses.
The act is the largest comprehensive health care reform legislation since Medicare and Medicaid were established almost 50 years ago. On June 28, in a 5-4 decision, the U.S. Supreme Court ruled the act is constitutional under federal tax laws. An article in the Fort Worth Business Press captured local leaders’ reactions to the ruling.
Comments from our CEO, Jim Thompson, were included in the article. He stated that regardless what the ruling was, small businesses still face challenges with health care.
“For the small-business person, what we need is clarity in relation to what we will have to do to comply with whatever this law ends up being and, more importantly, we need affordable health care,” he said. “This bill and this ruling don’t give us either of those two.”
Thompson would like to see Congress address the health care issue and take action that would lower health care costs.
“I would like to see all of this sorted out and would like to see the legislative branches of government get back to what they need to: address issues of real meaningful health care reform that lowers the cost of health care to the average individual so that they can provide necessary insurance for their family and their kids,” he said.
The initial provisions of the law, also known as “Obama Care,” began June 21, 2010 with most of the provisions being phased in over the next two years. One part of the bill that could impact small businesses is the mandate for employers and individuals to buy health insurance if they can afford it.
Small business owners already face many challenges in running a business. The new health care act will add another layer of complexity for many of these businesses. Additionally, due to the length of the new law, experts are still discovering nuances that create uncertainty for business owners in the future. Depending on the business, the company’s ability to hire may be greatly affected.
Clients depend on The InSource Group to stay abreast of changes in the marketplace. We have to be prepared to provide the best staffing alternatives for a range of business sizes while anticipating market changes and the corresponding impact. The InSource Group is here to assist you with your current and future staffing needs.