healthmyths
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- Sep 19, 2011
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the married owners of the bakery, which employs 95 people, estimate this could cost their business up to $108,000, and they are weighing their options as the date approaches.
Our revenues are about $8 million, but the food business is a low-margin industry so cutting $108,000 out of our profits, which are just over $200,000, is a big deal, said Ms. Shein, who is the chief executive.
They are evaluating different ways to comply with the new law and finance the expense.
Option One is to provide the insurance at cost up to $108,000 a year for 90 employees
Option Two is to not offer health insurance..The cost to the business would be $130,000 per year for a 95-person company.
Option Three: reduce the staff, because businesses with 50 or fewer employees will be exempt from the penalty.
http://www.nytimes.com/2013/03/21/b...s-confronts-the-new-health-care-law.html?_r=0
AND all of this mess will be duplicated by millions of small businesses like this bakery!
Establishment - A single physical location where business is conducted or where services or industrial operations are performed.
Firm - A firm is a business organization consisting of one or more domestic establishments in the same state and industry that were specified under common ownership or control.
Firms with 20 to 99 employees 532,391- firms 723,385 -establishments 20,922,960 paid employees
If this bakery is representative of the 1.3 million each given the choice of losing money or losing employees either choice will INCREASE revenue!
And this is an example how Obama and his administration with NO Business experiences IS DESTROYING AMERICA!
Each of the 1.3 million companies will add to unemployment, will NOT increase REVENUE thus REDUCE TAX REVENUE!
Take some time and see the below for actually numbers..
Statistics about Business Size (including Small Business) from the U.S. Census Bureau
Our revenues are about $8 million, but the food business is a low-margin industry so cutting $108,000 out of our profits, which are just over $200,000, is a big deal, said Ms. Shein, who is the chief executive.
They are evaluating different ways to comply with the new law and finance the expense.
Option One is to provide the insurance at cost up to $108,000 a year for 90 employees
Option Two is to not offer health insurance..The cost to the business would be $130,000 per year for a 95-person company.
Option Three: reduce the staff, because businesses with 50 or fewer employees will be exempt from the penalty.
http://www.nytimes.com/2013/03/21/b...s-confronts-the-new-health-care-law.html?_r=0
AND all of this mess will be duplicated by millions of small businesses like this bakery!
Establishment - A single physical location where business is conducted or where services or industrial operations are performed.
Firm - A firm is a business organization consisting of one or more domestic establishments in the same state and industry that were specified under common ownership or control.
Firms with 20 to 99 employees 532,391- firms 723,385 -establishments 20,922,960 paid employees
If this bakery is representative of the 1.3 million each given the choice of losing money or losing employees either choice will INCREASE revenue!
And this is an example how Obama and his administration with NO Business experiences IS DESTROYING AMERICA!
Each of the 1.3 million companies will add to unemployment, will NOT increase REVENUE thus REDUCE TAX REVENUE!
Take some time and see the below for actually numbers..
Statistics about Business Size (including Small Business) from the U.S. Census Bureau