Some small business owners are worried about the effects of the health care legislation passed earlier this year by Congress, but the U.S. Small Business Administration (SBA) is working to put those concerns to rest.
The SBA recently outlined the Affordable Care Act issues of particular concern to small business owners. Specifically, the SBA explained that the legislation does not include an employer mandate, and exempts all businesses that have fewer than 50 employees from any requirements.
The Affordable Care Act will also qualify small businesses for a tax credit over the next several years, if they purchase health insurance for their employees.
Recognizing the SBA's efforts, the National Gay & Lesbian Chamber of Commerce® (NGLCC) has sent a letter to SBA Administrator Karen Mills, thanking the agency for its work to keep employee health insurance coverage affordable for employers.
"We are writing today to...thank the Small Business Administration's efforts to mitigate the burdens placed upon small business owners through this legislation's well-intentioned efforts to ensure all Americans are covered by health care insurance," the NGLCC wrote in its letter.
For full details about how the Affordable Care Act will impact small businesses, download the SBA's overview here.
View the NGLCC's letter to the SBA here.
