We’ve been waiting for something like the Affordable Care Act for a very long time. I’ve had personal health needs in my family, and I’ve always wanted to be able to provide quality health care to my employees.
The Small Business Health Care Tax Credit is going to provide a significant savings for us — up to 35 percent of the cost. Right now, we pay for 50 percent of the lowest-cost plan for our employees. My goal is to increase the level of our contribution and ultimately to provide 100 percent of our premium for the employee. We’ve even contracted with a health benefits company nationally to help manage the selection of plans.
My son received a liver transplant when he was a baby. For 25 years, I’ve known what it is to have not as good health insurance as you would need. Our family had health insurance, but it didn’t cover what was needed and we could barely afford the transplant. We had to rely on donations to cover the health costs.
It is my heart’s desire to have a good health insurance plan — that is what I’ve always wanted for our family and what my son and daughter now need as young college graduates.
I’m a business owner who has been in the shoes of a person who did not have the health insurance that was needed. Now, as a person who can impact people’s lives, it doesn’t sit well with me that I can’t offer a good health plan for my employees.
The law is broadening the type of insurance that I can offer because as a small company, you’re limited in what you can afford to the most basic of care. The idea is that if you have fewer than 25 employees and their average wages are $50,000, then you can qualify for this tax credit, and these tax savings are going to allow me to offer more support for employees.
What’s more, if we’re able to be a part of the health exchanges that will be rolled out in 2014, it would be so comprehensive that it would meet all of our health care needs. It’s going to help our employees get some of the best plans, because under larger plans, you’re sharing the risk across more people.
All of us as small business owners would be able to participate in this exchange, and if we outgrow the exchange, we still have the ability to reap some of the other benefits. The important thing is that at the end of the day, I’ll be able to offer better-quality health insurance.
Hester Clark is president and owner of the Hester Group, a woman owned 8(a) company that provides strategic communications and program management services in Florida and the Washington area.
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