Starting Wednesday, Obamacare will punish businesses who help employees with health care

[Geee]

Watchdog.org:

Employers who reimburse their workers for health care costs will face massive tax penalties beginning Wednesday.

 

Prior to the passage of the Affordable Care Act, with its mandate that all Americans purchase insurance and requirement for businesses to offer employees insurance plans, many small companies provided coverage by directly reimbursing medical costs or for the cost of private insurance plans. Businesses do it because that’s a less complicated process than dealing with an official health insurance plan, but continuing to do so after July 1 could cost them hundreds of dollars in fines each day.

 

IF YOU LIKE YOUR INSURANCE…: Businesses that offer reimbursement for health care costs could face massive IRS penalties beginning on Wednesday. Business groups say many small businesses might be unaware of the risk.

Business groups are calling attention to what they say is an obscure part of Obamacare that could crush small businesses who are unaware of it.

“It’s the biggest penalty that no one is talking about,” said Kevin Kuhlman, policy director for the National Federation of Independent Businesses, on Tuesday.