Small Businesses Unsure About Health Care Law
FOX 47 News
Mariam Henfling owns Next Level Transmission & Auto Repair in Holt. She wants her employees to be insured..."working on cars and being under vehicles, we wanted our employees to have the coverage,"...but at the same time, she's nervous about the risks this requirement poses to her business.
With only seven employees, she doesn't have to offer them health insurance, but she's worried they'll find another job that does offer it.
Which puts her on the spot to decide whether or not to spend the money: "For just an individual in such a small group, it was around $565 a month."
Small Business Association of Michigan's Rob Fowler thinks many of the small businesses he represent have a similar choice to make: "There's always been this dynamic that if you want to attract and retain good employees, health insurance is one of the things you might wanna consider doing."
And now it's a choice that could know them down just after the economy was starting to pick up: "Individuals are going to be looking for employer-provided health insurance."
Michigan Consumers for Health Care's Brett Williams understand the law will be tough on small businesses to start out: "Everybody should have health care coverage," but that's why the country is offering them a tax credit.
"In 2014, it goes up to a 50% tax credit if they pay for at least half their health insurance costs."
But to Henfling, it's still uncharted waters: "We're growing, but a lot of businesses are struggling; and for those businesses, it could be detrimental to their success. I'm scared to see what happens to them."