Health Care Act: Navigating Obamacare

• Printers must either offer affordable health insurance or send employees to the health insurance exchange, which will be set up in October. Not offering coverage will be more costly, in the long run, and could make retention/recruiting of employees more difficult.
• Companies with up to 25 full-time employees may be eligible for a tax credit for offering insurance. Average employee salaries (excluding ownership/family) must be under $50,000 and the company must pay for half of the premium of single coverage. This tax credit goes away this year, but if you didn't take it previously, consult your accountant.
• For plan years that begin on or after Sept. 23, 2012, the plan must provide a summary of benefits and coverage to all health plan enrollees/ applicants. And you must provide 60 days notice of material modifications that impact the summary of benefits and coverage.

Kyger, for one, holds an optimistic view toward the readiness of printers in regard to coverage. Most of the companies he's spoken with say that their current plan meets minimum value and essential coverage. Very few printers in the 50-plus employee range plan on dropping coverage. However, there are unintended and somewhat predictable consequences. Some health insurance carriers are seeking double-digit rate increases, according to Kyger, noting that Blue Cross/Blue Shield of Rhode Island proposed an average increase of 18 percent for individuals and 15 percent for small groups.