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One of the more favorable parts of the Affordable Care Act (ACA) was a program that was intended to provide less expensive health insurance to small businesses and their employees, otherwise known as insurance exchanges. The provision is specifically designed to help small businesses pay for employee health care costs, as well as provide workers with a choice of health plans. The Obama administration, however, announced today that it is delaying parts of this program and workers may only be limited to a single plan. The choice option, already available to larger businesses, was supposed to be available for small businesses in January, but administration officials said they would delay it until 2015 when the federal government will have the insurance exchanges up and running. The administration cited “operational challenges” for the delay. The delay will “prolong and exacerbate health care costs that are crippling 29 million small businesses,” said Senator Mary L. Landrieu, Democrat of Louisiana and chairwoman of the Senate Committee on Small Business and Entrepreneurship. With smaller companies already typically paying higher prices for insurance, health care costs are a top concern for small businesses.For more info, click here
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