How the ACA has Helped Small-Business Owners

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Affordable Care Act (ACA) has Helped Small-Business Owners

It is the onus of small-business owners to find health insurance options for themselves just like self-employed people. If the concerned business is very small and employs 1 to 50 full-time equivalent employees, then the business owner is not obligated to offer medical insurance coverage to employees. Even if the owner has one employee working in his business, he or she can apply for health insurance coverage for self and employee through special health insurance plans under Small Business Health Options Program (SHOP).

As per the data put forward by the Health and Human Services, a large number of small business owners buy their health insurance through the health insurance marketplace.  These figures are also suggestive of the fact that the number of people who run small firms or companies are increasing. Since these people do not have health insurance through the conventional source, that is, through the employer, they have to seek different ways in which they can fulfill their requirement for health insurance.

The health insurance marketplace set up as per the guidelines of the Affordable Care Act, has been a major source of health coverage for small business owners, a large part of whom are middle-income or low-income people. Small business owners may also qualify for tax benefits when they buy health insurance plans from the marketplace.