The New York Times indicates that if employers offer employees full-time coverage but require employees to pay a premium bonus may not exceed 9.5 percent of household income of their employees. If the premium is more than 9.5 percent of their household income, the employee may apply for a government grant and the government will penalize the employer.
This piece of legislation on Medicare could have a huge impact on retailers and restaurants. Generally, these types of companies do not offer coverage and may not be able to provide affordable coverage defined by the government.
Yet the government must define what the coverage will be included in determining the affordability of health insurance plans. Employees who have coverage for their entire family will pay more out of pocket than the employees who pay only for individual coverage.
Many companies can change their health insurance plans to avoid penalties. Yet it is unclear how small businesses to obtain information on household income of an employee and if this information is readily available. Experts fear that the employer knows the income of an employee's household could cause discrimination in hiring or firing an employee who receives grants to cover health care.
Either way, small businesses will need to work with health insurance companies to find health insurance policies that fit all the new requirements of the reform of health care.
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