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Health Care Law Could Provide Big Penalties

Updated: Fri 6:47 PM, Aug 03, 2012

Today was a chance to learn more about what many consider to be a confusing health care law.

"We wanted to come to see how this would effect our staff and operations. It's a very important topic and we wanted to be in the loop," said Bowling Green Area Visitor and Convention Bureau Director, Vicki Fitch.

The Chamber of Commerce along with the Houchens Insurance group hosted a seminar to shed some light on the topic.

One of the issues talked about was the law itself, which one officials says has good and bad points.

"We were hoping to see a law that would have more to do with affecting the quality of the care and the cost, and effect this law didn't either. Quality care hasn't got any better, but cost continues to go up for the employers," said Gary McClure, Van Meter Insurance.

"Adding adult children to age 26, they fell through the cracks. We think that's great, those folks needed to be covered," said McClure.

But how will this affect business owners, employers, and the employees?

If businesses with more than 50 employees choose not to provide health coverage, then there will be a price to pay for the company, and you will have to go elsewhere for coverage.

"Everyone will have to be covered or pay for a tax. All employers will have to offer if they do not, then they'll have to pay the $2,000 penalty per employee, those dollars are in effect to help pay for the law," said McClure.

Businesses with less than 50 employees are exempt from this law.

So, it's all begun to see who will provide and who won't, but insurance officials believe many will try.

The Supreme Court upheld the constitutionality of the health care law earlier this Summer when they ruled 5-4 on the matter.

There is a possibility it could be repealed, if there's a change in the white house in the upcoming election.


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