http://AIADirectQuote.com Obamacare penalty may include business owners facing $100 per day. There may be an expensive wake-up call this coming month for small business owners. They thought they were home free until 2015, but may have a shock. If a business has at least one employee and generating $500,000 in revenue a year, must notify all employees by letter about the Affordable Care Act's health care exchanges. If they do not, will face a $100 per day fine. This applies to any business that is regulated under the Fair Labor Standards Act and doesn't matter the size. Plus any new employee must receive the letter within 14 days of their start date according to the Department of Labor. A few months ago the employer mandate was informed that every business with at least 50 or more full-time employees must offer workers acceptable coverage or face a $2,000 penalty per worker. per year. Keith McMurdy, partner at FOX Rothschild LLP, says the $100 per-day fine has been “unfortunately overlooked” by many small businesses, and the dollar amount on the penalty comes from the general per-day penalty under the ACA; however the October 1 employee notification deadline stands.

1. Obamacare Penalty!
Another Blow For Small
Business Owners
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2. Obamacare penalty
may include business
owners facing $100 per
day. There may be an expensive
wake-up call this coming month
for small business owners. They
thought they were home free until
2015, but may have a shock.

3. If a business has at least one
employee and generating
$500,000 in revenue a year,
must notify all employees by
letter about the Affordable
Care Act's health care
exchanges. If they do not, will
face a $100 per day fine.

4. This applies to any business
that is regulated under the Fair
Labor Standards Act and
doesn't matter the size. Plus
any new employee must receive
the letter within 14 days of
their start date according to
the Department of Labor.

5. A few months ago the employer
mandate was informed that every
business with at least 50 or more full-
time employees must offer workers
acceptable coverage or face a $2,000
penalty per worker. per year. Keith
McMurdy, partner at FOX Rothschild
LLP, says the $100 per-day fine has
been “unfortunately overlooked” by
many small businesses,

6. and the dollar amount on the penalty
comes from the general per-day
penalty under the ACA; however the
October 1 employee notification
deadline stands.
www.TheFutureOfHealthInsurance

7. “The PPACA has a general $100-a-
day penalty for non-compliance.
Since this requirement is in the
FLSA there are also penalties
there. So the general consensus is
that some penalty applies and
probably the general provision,”
McMurdy tells FOXBusiness.com.

8. Joeseph Dutra, president and
CEO of Kimmie Candy Co., has 30
employees and brings in more
than $500,000 in revenue
annually, which means he has to
notify workers of the exchanges
by Oct. 1. He had no idea.

9. “My understanding is that a lot of
businesses don’t know what the
requirements are under the law,”
Dutra says. “So many businesses
don’t have a designated HR
department.”

10. Joe’s “HR department” is his son,
John Dutra. John says the business
was aware of the Oct. 1 deadline for
notifying workers about the
exchanges, but did not know about
the $100 penalty. He says while the
company will continue to offer
benefits to its employees as it
currently does, the costs it will pay
for coverage overall will increase by
4%, thanks to ACA regulations.

11. Ray Keating, chief economist for
the Small Business &
Entrepreneurship Council, says
many businesses are likely
unaware of this potential fine
coming down the pike for failure
to comply, and that it’s unclear
how the government will be
implementing the $100-per-day
penalty.

12. “It’s a steep fine—when you start
tallying up all of the costs,
businesses need to start figuring
out ‘am I better off just not
offering coverage and paying the
penalty?’” he says. “And there is
no easy answer. With this, you are
dealing with the threat of a $100-
a-day penalty fine,

13. but you also have to go through
the process of notifying everyone,
so on and so forth, so there are no
easy ways out for business
owners.”
Keating says it’s simply another
example of how the law will cost
both businesses -- and
government -- more cash.

14. The White House declined to
comment on how the fine would
be implemented, but deferred to
the U.S. Small Business
Administration, which says
education on this FLSA
requirement has been part of “any
and all outreach that SBA does
with small business owners.”

15. The agency says it has
participated in more than 750
ACA-related events with more
than 30,000 small business
owners and community
stakeholders since February
2013.

16. We cannot predict the outcome
of any future legislation or
litigation related to Healthcare
Reform. As described under
“Item 1. Business—Health
Insurance Industry and Market
Opportunity,”

17. We expect Healthcare
Reform to result in
profound changes to the
individual health insurance
market and our business.
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18. www.TheFutureOfHealthInsurance.com

20. www.AIADirectQuote.com