By ForConstructionProsBlog.com

For  contractors and dealers who employ more than 50 full-time people, things could change dramatically come 2014. Companies must offer health insurance or pay fines of $750 per full-time employee per year. The health insurance offered must also cover 60% of employee costs overall. Since many dealers and landscape contractors who do offer health insurance only cover half of costs, this would be a dramatic cost increase.

As the House and Senate continue to “reconcile” the Health Care Reform Bill, other changes impacting small businesses could be looming:

- Part-time employees could be counted toward the 50 employees on a pro-rated basis based on hours worked; this could affect contractors who employ part-time seasonal workers.

- The $750 penalty per year per employee penalty for not providing insurance could climb to $2,000.

This is not over yet … not by a long shot. Continue to stay on top of this important issue, contact your local representatives, and start planning for 2014 now.

SOURCES: csmonitor.com, cnnmoney.com, sba.gov