What the ruling on Obamacare means for Small Business Owners


The King v. Burwell lawsuit

On June 25, 2015, the Supreme Court ruled to uphold the Affordable Care Act in the King v. Burwell Lawsuit. What does this mean?

Basically, this ruling means that health insurance subsidies will remain available no matter if health insurance is purchased from the state or federal insurance exchange.

This ruling specifically addressed some misinterpreted wording in the Obamacare law that stated subsidies are available to those who buy insurance “established by the state.”

If subsidies were ruled to be indeed only available to those who purchased insurance through the state, then roughly 8 million people who purchased their health insurance through the federal exchange would be left without affordable health insurance.

Obamacare and small business owners

This ruling means that affordable health insurance will remain available to entrepreneurs and small business owners. While new stipulations within Obamacare require businesses of a certain stature to provide health insurance for employees or suffer from a fee (which created a pretty significant cost for small businesses) entrepreneurs and startups that typically have low income during the beginning phases of the business get to reap the benefits of affordable health insurance.

Without Obamacare and health insurance subsidiaries, entrepreneurs and startups have two other options – opt to have no health insurance at all and hope to stay healthy, or find a job that offers health insurance benefits.

As a small business owner, what if I DON’T provide health insurance for my employees?

If purchasing insurance for your small business employees seems too costly and you decide not to purchase insurance, be aware that you could be fined:

  • 2 percent of your yearly household income
  • $325 per person (and $162.50 per child) for the year

You can learn more about that on HealthCare.gov’s Fees & Exemptions page.

What is your experience with Obamacare as a business owner? How has it impacted the way you run your business? Share in the comment section below!

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