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The Law Firm of Pozzuolo Rodden, PC, Philadelphia Business Attorneys, Released the Article: "ObamaCare-The Mandates and Penalties Facing Privately Held Businesses"
Date:8/12/2013

(PRWEB) August 12, 2013

The Law Firm of Pozzuolo Rodden, P.C., Philadelphia Business Attorneys, announces the release of the article “ObamaCare-The Mandates And Penalties Facing Privately Held Businesses“. If you would like to read more, please read the full article and other corporate law or estate planning articles and newsletters at: http://www.pozzuolo.com.

ObamaCare--The Mandates And Penalties Facing Privately Held Businesses

On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act, a.k.a. ObamaCare or the Affordable Care Act. The goals set by enactment of the Affordable Care Act are to improve the quality, affordability, and rate of health insurance coverage in the U.S. and to lower the costs of healthcare for individuals and the government. These goals are to be achieved through subsidies and mandates, and through the creation of health insurance Exchanges. The law has many provisions that have either taken effect or will take effect over several years beginning in 2010. Many businesses and employers are or will be subject to these provisions as they become effective. In fact, the law will require some affirmative action to be taken by businesses.

Health Insurance Exchange Notices

One new requirement applicable to businesses under the Affordable Care Act is the employer provided Exchange notice requirement. Beginning in October 2013, employers will be required to provide notice to their employees of coverage options available through the new health insurance marketplace, or “Exchange”. The Exchange will be available to individuals to enable them to purchase qualifying, affordable healthcare coverage. Open enrollment for health insurance coverage through the health insurance Exchange begins October 1, 2013 for enrollment in health coverage starting January 1, 2014.
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