As the Affordable Care Act starts to come into action, local small business owners prepare. (Published Thursday, Sep 5, 2013)
There's less than a month to go before the state's health insurance exchange goes live.
Small businesses around the state are becoming increasingly concerned about the Affordable Care Act and how it could affect them.
"The big question for employers is going to come Oct. 1 when a whole host of new taxes and new compliance mandates come into place," said Andrew Markowski, of the National Federation of Independent Business Connecticut.
Large companies with 50 or more fulltime employees will eventually be required to provide employees with health insurance. That employer mandate was delayed one year by the Obama Administration.
Starting in October, small businesses could get penalized too, according to Markowski.
He said that's because small businesses must provide employees with what's called a notice of coverage document.
"Basically, it's a form that all employers have to provide to all their employers that says, 'Do they offer health insurance? Do they not offer health insurance?'" Markowski said.
NFIB has been hosting workshops for its members to help answer questions but there is still a lot of uncertainty.
"There are a lot more questions than answers," Markowski said.