The Affordable Health Care Law and your Home Business

Many prefer to start a home business but are prevented by high costs for health care.  That is going to change starting in October 2013 with the introduction of The Affordable Health Care Law.  Signed into law by President Barack Obama in 2010 and upheld by the United States Supreme Court in May, 2012, the new Health Care Law will provide coverage to virtually all Americans.  Designed in part to cover tens of millions of people currently without health care and many others with chronic conditions, the Health Care Law “offers clear choices for consumers and provides new ways to hold insurance companies accountable.”

Passage of this law potentially removes a major barrier to those interested in starting a home business.  According to the government, a health insurance marketplace begins in October, 2013.  Below are some of the other upcoming major milestones in this landmark law:

OVERVIEW OF THE HEALTH CARE LAW

healthcare collage

2010: A new Patient’s Bill of Rights goes into effect, protecting consumers from the worst abuses of the insurance industry. Cost-free preventive services begin for many Americans.
See More 2010 Changes.

2011: People with Medicare can get key preventive services for free, and also receive a 50% discount on brand-name drugs in the Medicare “donut hole.”
See More 2011 Changes.

2012: Accountable Care Organizations and other programs help doctors and health care providers work together to deliver better care.
See More 2012 Changes.

2013: Open enrollment in the Health Insurance Marketplace begins on October 1st.
See More 2013 Changes.

2014: All Americans will have access to affordable health insurance options. The Marketplace will allow individuals and small businesses to compare health plans on a level playing field. Middle and low-income families will get tax credits that cover a significant portion of the cost of coverage. And the Medicaid program will be expanded to cover more low-income Americans. All together, these reforms mean that millions of people who were previously uninsured will gain coverage, thanks to the Affordable Care Act.
See More 2014 Changes. (1)

This blog takes no stance on the merits or shortcomings of this law and we are aware of the significant changes and potential impact of the Health Care Act.  Homepreneurs is excited about health care reform for Home Business owners and other small business entrepreneurs. One more obstacle to starting a business is removed.

President Harry S. Truman called for a national health care plan in 1945.(2)  In subsequent decades, attempts to pass health care reform have failed, leaving tens of millions of citizens uninsured and forcing uncounted numbers into financial difficulty.  Homepreneurs hopes the passage and implementation of the Affordable Care Act provides financial relief for many and allows individuals to pursue personal business goals and interests.

By Dion D. Shaw

Dion D. Shaw is the founder and owner of Homepreneurs

Homepreneurs.  New Day.  New Opportunity.

Disclaimer

Homepreneurs does not endorse nor have any relationships with any of the services listed.  Homepreneurs receives no compensation or consideration for its suggestions.  Homepreneurs and its staff are not experts and do not claim expertise in health care, health insurance or  related matters. Homepreneurs strongly urges all interested parties to conduct research and accepts no responsibility for any losses incurred.

© Homepreneurs 2010 – 2013, All Rights Reserved

References

(1) http://www.healthcare.gov/law/timeline/full.html

(2) http://www.trumanlibrary.org/anniversaries/healthprogram.htm